JD Sports has reported that trading is “challenging” at the moment, but said that things would ease up later this year. The sportswear retailer said that it expects profits to be in line with its previous guidance of between £915m and £935m before tax and adjusted items in the year to early February.
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00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:05 Here are your headlines for this morning.
00:07 JD Sports has reported that trading is challenging at the moment, but it said that things would
00:13 ease up later this year.
00:15 The sportswear retailer said it expects profits to be in line with its previous guidance of
00:20 between £915 million and £935 million before tax and adjusted items in the year to early
00:26 February.
00:27 It came despite a tough January when the business said it had to cope with elevated promotional
00:32 activity.
00:33 The company chose not to participate fully in these sales in the UK and Ireland, which
00:37 were mainly online.
00:38 As a result, like-for-like sales fell by 3.2% in the region in the fourth quarter.
00:44 As an update this morning from JD Sports, it says that trading is challenging at the
00:49 moment but there are hopes that things could get better as the year goes on.
00:54 My name's Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.