JD Sports share price: what to expect from its half-year results
The sports fashion and outdoor brand retailer will unveil its interim results on Tuesday, with investors expecting great things from a stock that that gained more than 70% in value since January.
When is JD Sports’ results date?
JD Sports will unveil its half-year results on September 10.
JD Sports’ results preview: what does the City expect?
JD Sports’ share price has performed exceptionally well this year, up 73% since January, with trading at 625p per share as of 14:40 GMT on Wednesday.
Earlier this year, RBC Capital Markets analysts began covering JD Sports and issued a outperform rating for the stock and a 725p target price.
‘We view JD Sports as one of the few UK retail success stories overseas,’ RBC analysts said in a note to investors at the end of July. ‘Our analysis suggests the market has underestimated its international expansion potential and the margin recovery opportunity for Finish Line in the US’
JD Sports gained a strong foothold in the US market by acquiring American shoe store chain Finish Line back in March in a deal valued at $560 million (£460 million).
The transformational provides JD Sports with a huge footprint in the world’s largest economy, with Finish Line boasting more than 550 stores and exclusivity for sports shoes at Macy’s department stores.
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JD Sports presses forward with global expansion
JD Sports continues to successfully expand its geographical footprint, which has helped the company see strong like-for-like sales growth both in the UK and international markets.
Overall, the retailer has opened 29 additional stores over the first half of the year, with 18 opened across Europe, five in the Asia Pacific region and six in key locations across the US.
‘We have now opened our sixth JD store in the United States after the conversion of the former Finish Line store at the Mall of America in Bloomington, Minnesota,’ JD Sports Chairman Peter Cowgill said. ‘We remain encouraged by the developments in this market to date.’
Investors will be expecting another strong showing from the retailer when it unveils its half-year results on Tuesday.
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