JD Sports owner expects £150m bigger profit after US boost
Sales increased by shoppers spending Covid fiscal stimulus cheques on athleisure gear
The owner of JD Sports, Blacks Leisure and Millets has upgraded annual profit expectations by £150m after sales were boosted by US shoppers spending their Covid fiscal stimulus cheques on trainers and athleisure gear.
The retail group, which owns more than 3,000 stores in the UK, US, Europe and Asia, raised its target for the year to £750m after pretax profits soared to a record £364.6m in the six months to 31 July, almost nine times that of the same period a year before when retailers were hit by high street lockdowns around the world. Sales rose 56% to £3.9bn in the half year.