Britain’s biggest sportswear retailer has upgraded its profit outlook after outperforming its rivals over Christmas.
JD Sports Fashion said that its like-for-like sales had risen by more than 5% in the 48 weeks to January 5, helped in part by strong sales generated during the Black Friday sales and the holiday period. This was up from a 3% rise in comparable sales in the first half.
The chain said that although many retailers had engaged in short-term “reactive” discounting, particularly over the festive period, it had held firm on its pricing strategy and had maintained its profit margins.
