The "king of trainers" is up 8% today after seeing "material growth" in online and overseas sales.
Companies: JD Sports Fashion Plc
JD Sports Fashion (LON: JD.) has reported an uplift in sales over the Christmas period which has pleased the market today.
The self-proclaimed "king of trainers" said that H2 18 sales so far, which cover the key Christmas period, are up 3% versus H1 18 - "encouraging" performance considering the "significant levels of sales increases achieved in each of the last three years" Management said.
As a result, it went on to say...
"We are now confident that our headline Group profit before tax for the year ended 3 February 2018 will reach around £300m. Prior to this announcement the range of market expectations was £270m to £295m. The preliminary results for the year ended 3 February 2018 will be published on 17 April 2018."
Shares in JD were up over 8% to 393p in Tuesday morning trading.
Other retailers including Ted Baker, Superdry and Quiz also saw increases in sales over the busy Christmas trading period, all boosted by strong online sales growth figures.
JD's share price grew steadily between 2015 and 2017, increasing in value by over 350% in less than 2.5 years to reach an all-time high of 456p.
The Group's revenue chart and profit margins are equally as impressive with a revenue CAGR of 18% and a Net Profit CAGR of 30% for the five years to 2017 (FY 17 finalised in January '17). JD currently has a market cap of £3.6bn and a forecast earnings multiple of 15x versus an industry median of 12x.
