JD's sporting chance to meet profit expectations

JD SPORTS breathed a sigh of relief last week as full-year organic sales growth landed in line with market expectations.

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A string of weak sales and profit downgrades in recent times meant that simply meeting expectations was viewed as "a win", and the shares bounced higher after the announcement.

JD has been holding firmer on pricing than many of its competitors, who have leaned into more promotional activity to help clear stock. The company appears to be digging its heels in, not wanting to engage in a fire sale and tarnish its reputation as a more premium store.

That has helped to keep full-year pre-tax profit guidance on track, expected to be in the £915-935million range.

Looking ahead, the retail trading environment is likely to remain volatile.