JD Sports to beat profit forecast after strong Christmas

LONDON, United Kingdom - British retailer JD Sports Fashion expects to beat full year profit forecasts after posting strong Christmas trading, it said on Friday.

The firm, which sells sports, fashion and outdoor brands, said it was confident profit before tax for continuing operations will exceed the top end of market expectations for the 2014-15 year which currently range up to 90 million pounds. It posted a 2013-14 pretax profit of 77 million pounds.

JD Sports said sales at stores open over a year in its continuing businesses rose 12 percent in the five weeks to Jan. 3, taking the cumulative rise for the 48 weeks to Jan. 3 also to 12 percent.

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Shares in the firm, up 19 percent over the last year, were trading up 6 percent at 506 pence at 0803 GMT on Friday.