JD Sports: ‘King of Trainers’ delays full year results by two days

JD Sports said it is delaying the publication of its full year results until Friday 31 May – two days later than initially planned. 

The ‘king of trainers’ was initially set to update investors on its trading for the 53 weeks to February tomorrow, Wednesday 28 May, but it has now been delayed. 

No reason was given for the decision to delay the results in a statement to markets this morning.

Earlier this year the employer of around 60,000 people said it would pocket around £100m less than what was previously thought year due to higher discounting and reduced customer spend.

An announcement issued by the board on the London stock exchange said it was trading in line with company expectations. 

The push back has not impacted JD Sports  share price, with the figure up over six per cent this afternoon. 

Last month JD Sports said it would pay £878m for Hibbett, an Alabama-headquartered ‘fashion inspired’ retailer with stores in 36 states across the States.

JD Sports described it as an “important strategic milestone for the group”. 

Chief executive Régis Schultz has ambitious expansion plans for the American market, targeting around 700 new stores over the next four years. 

It already has over 200 sites in the region and also acquired rival brands in the market such as Finish Line.

The acquisition will increase North America’s share of group sales from approximately 32 per cent  to approximately 40 per cent.