Focus on acquisitions as JD Sports expects growth

Consensus estimates predict the retailer will report annual revenue of more than £4.5 billion and profit before tax of £349.2 million.

Analysts at Shore Capital said the double-digit profit growth was rare for the retail sector.

“We have been highlighting for some time that JD has several growth levers that continue to give the business momentum and double-digit earnings growth potential,” they said.

The group is expected to give more detail on its takeover of Footasylum, which it agreed last month in a deal valuing the company at more than £90m.

Footasylum was founded in 2005 by David Makin, one of the co-founders of JD Sports.

It focuses on the footwear and apparel markets, targeting a younger trend-led consumer. Its acquisition could help JD Sports to reach a wider market.

On Friday, the offer for Footasylum was declared wholly unconditional after it received widespread shareholder support.

Peter Cowgill, executive chairman of JD, said: “We believe the combination of these two complementary businesses will deliver significant operational and strategic benefits going forward.”

Investors will also be watching for an update on the group’s US operations following its acquisition of Finish Line last year.