JD Sports on track to open 150 stores this year

JD Sports has said it is on target to open 150 stores by the end of the financial year.

At the retailer’s capital market’s event in February, it was revealed that JD Sports is aiming to open between 250 and 350 new stores a year, spending up to £360m per annum.

Ahead of the sportswear retailer’s annual general meeting, it added that a proposed acquisition of French retailer Courir is expected to close later in the year.

The group also provided a financial update, stating that trading in May had continued to be strong, with a growth in organic sales of 8% at constant currency.

JD Sports said this trading momentum has carried on into June in its UK, Europe, and Asia Pacific markets, although it has been slightly offset by softening trade in North America.

The retailer’s board has maintained its previous estimation of a headline before profit, tax, and adjusted items for the year ending February 3 2024 of £1.04bn. It also expects that around 35% of profits will be generated within the first half of the year.