By Daniel Hunter
JD Sports Fashion has said it expects to beat its annual profit forecast after strong Christmas sales.
The retailer said like-for-like sales were up 12% in the five weeks to 3 January. That, it said, would help profits to rise above £90m - the highest total forecast in The City.
JD Sports reported profits of £77m in the previous year.
Shares in the group were up 7% after the positive trading update.
Peter Cowgill, JD’s executive chairman, said: “The great momentum I reported in the sports fascias in all our territories earlier in the financial year has been maintained during the key Christmas period, particularly when measured against strong comparatives in prior years. This result is testimony to the strength of the JD Brand and its commitment to providing its customers with unrivalled choice, quality and excitement.”
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