JD Sports upbeat on profit as consumers spend more during holidays

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Reuters UK

(Reuters) -JD Sports Fashion on Wednesday raised its annual profit forecast ahead of market expectations, benefiting from robust holiday demand and as U.S. consumers spent more on apparels. Britain’s biggest sportswear retailer, which sells brands such as Nike, Adidas and Puma, expects headline pretax profit of at least 875 million pounds ($1.19 billion) for the year to Jan. 29, ahead of current market expectations of 810 million pounds. It had earlier forecast annual headline pretax profit of at least 750 million pounds. The London-listed enterprise has been expanding abroad since it set up a…

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