JD Sports Fashion PLC (LSE:JD.) expects annual profits for the year to next January to be at least equal to that for the past year, after a period of improved sales in the first 14 weeks of the period.
The sports fashion retailer said pre-tax profit for the year to end-January 2022 was expected to be around £940mln, which is higher that its previous guidance of £900mln given in January.
The new year has started with like-for-like sales up 5% year-on-year, despite the FTSE 100-listed company reporting a "global shortfall in the supply of certain key footwear styles which we expect to improve progressively through the year".
Confidence in the current year was expressed, though management said they are "conscious of the headwinds that prevail at this time including the general global macro-economic and geopolitical situation".
Shares in the company rose 2.5% to 121.85p in early trading on Thursday.