JD Sports counters chill on High Street to increase its value by 79% since start of year
JD Sports has been on an unstoppable march in recent years.
The retailer has countered the chill on the High Street to increase its value by 79 per cent since the start of the year.
But in recent months its price has stagnated as investors await half-year results, released on Tuesday, for a crucial status update.
UK operations have been boosted abroad with 29 stores opening in Asia, the United States and Europe.
The company looks like ‘one of the few UK retail success stories overseas’, claims RBC analysts.
Fans also point to its quick-changing fashion trends and career opportunities for staff.
Shore Capital, JD’s house broker, forecast revenues of £2.6 billion for the six months to the end of July, which would represent a bombastic 40 per cent growth rate year-on-year. Profit could also rise to £158m, up 27.5 per cent, they said.
Next week’s update will report how JD Sports’ re-branded stores are faring.
But it is not all plan sailing. The competition watchdog is still looking into its £90m takeover of Footasylum in the UK.
But at a time when High Street titans like Marks & Spencer are struggling, JD Sports remains one to watch.