JD Sports Fashion, a leading sportswear retailer, has announced that its full-year results will be delayed due to its strong sales performance and the incorporation of new numbers following the forced sale of its Footasylum business. This delay will also allow for the split of Peter Cowgill’s joint chairman and chief executive role and ensure a thorough global audit by KPMG. The company’s accounts are expected to exceed previous expectations, with profits before tax and exceptional items anticipated to be at least £900 million for the 12 months ending on January 29.

This new forecast is higher than the improved guidance of £875 million given in January, and significantly surpasses the £750 million forecast provided in September. The impressive performance can be attributed to strong trading throughout the year, with total like-for-like revenue for the 22 weeks ending on January 1 more than 10% higher than the same period the previous year.

The delay in announcing the full-year results follows a fine of £4.3 million levied against JD Sports Fashion and Footasylum for breaching competition rules in relation to a blocked merger. The companies have pledged to provide further updates on the timetable for announcing the final results.

The success of JD Sports Fashion in the sportswear retail sector demonstrates the continued demand for athletic and athleisure products, as consumers embrace a more casual and comfortable style in their everyday lives. The company’s delayed results and raised profit forecast underscore its strong position in the market and its ability to adapt to evolving consumer preferences. As JD Sports Fashion expands its global presence, it will be intriguing to see how it tackles the challenges and opportunities presented by the ever-changing retail landscape.

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Sources:
– JD Sports Fashion website:
– JD Sports Fashion social media pages: