Sportswear giant JD Sports said it was trading in line with its lowered expectations, as the firm pinned its hopes on an improved consumer outlook for the year ahead.
The so-called ‘King of Trainers’ - which has shops on Union Street and in Union Square - told the stock market that total sales grew 3.6% to £10.5billion in the year to February.
It is a more positive outlook after the retail giant cut profit targets in its previous stock market update in January.
Today, JD Sports cofirmed the £915-935million guided range it gave at the start of the year, whhttps://www.agcc.co.uk/admin24...ich was down from a previous guidance of £1.04billion profit.
Boss Regis Schultz said: “Looking ahead, the current trading environment remains challenging due to less product innovation and elevated promotional activity, especially online.”
“We anticipate trading conditions will improve as we move through the year, helped by a busy sporting summer and softer comparatives with last year.
He added: “We continue to invest in our people and the infrastructure needed to deliver our long-term growth plan. I am excited about the opportunities for the JD Group going forward and our ability to deliver attractive returns to shareholders.”
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