Athleisure has gone mainstream and the sports clothing retailer JD Sports Fashion has the clout to capitalise on a greater consumer appetite. The FTSE 100 constituent has been on a profit upgrade spree over the past 12 months and pre-tax profits of at least £875 million expected for the year to January 29 would be more than double last year and way above the £500 million top end of the range guided towards last April.
What has driven the profit surge? Pent-up demand once shops reopened and fast US expansion fuelled earnings during the first half of the year. But it had a good Black Friday and Christmas, too, and like-for-like sales were 10 per cent ahead over the final 22 weeks of last year.
