London - British sports-fashion retail company, JD Sports Fashion Plc (JD.L), in its AGM trading update, said it believes it is on track to deliver adjusted profit before tax for the full year at an increased level of no less than 550 million pounds. The Group said its forecast reflects risk of further temporary store closures and the potential repayment of government support to payroll costs in the current year.
JD Sports said it now has about 3,300 stores across 29 countries, after the acquisition of DTLR Villa LLC in the United States and Marketing Investment Group S.A. in Central Europe this year. While most of the stores are now trading, the Group said, it continues to experience some temporary closures in parts of the Asia Pacific region.
With regards to the Board’s succession planning and to strengthen the depth of the management team, the Group added, it intends to divide the current role of Executive Chairman and CEO before the next Annual General Meeting and that a comprehensive process will begin shortly. (DPA)