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Sports retailer JD Sports Fashion said it was on track to deliver profit of at least £550 million following encouraging reopening in the UK and enhanced demand in the US as the government rolled out further stimulus cheques.
'[W]e presently believe that the group is on track to deliver profit before tax and exceptional items for the full year at an increased level of no less than £550 million,' the company said.
In those markets across Europe where stores were closed in the early part of the year, sales retention was slightly ahead of that seen in the first closure period in Spring 2020.
Trading in the immediate period after reopening was particularly encouraging in the UK, while in the US, a second round of fiscal stimulus in March led to enhanced levels of consumer demand, the company said.
Commenting on its board's succession planning, the company said it intended to divide the current role of Executive Chairman and CEO before the next annual general meeting.