Savera O’Hare

JD Sports Fashion PLC on Thursday reported a decline in pre-tax profit in the first half after posting higher costs, but said strong demand for its sporting goods boosted sales.
The fashion retailer posted a pre-tax profit of £298.3m ($336.2m) for the six months ended 30 July.

The company said revenue increased from £3.89 billion to £4.42 billion, adding organic sales were up 5% on the previous year.
The Board has declared an interim dividend of 0.13 pence. The company had not declared a payment to shareholders a year ago.
JD Sports said its first-half results hit the upper end of its board’s expectations, noting that the company is opening new stores around the world.
For fiscal 2023, the board continues to expect pre-tax adjusted earnings to be at the same level as fiscal 2022, with sales up 8% over the prior year through the second half, the company said.
Non-Executive Chairman Andrew said: “We are cautious on trading through the remainder of the second half of the year given the potential for further supply chain disruptions from broader macroeconomic uncertainty, inflationary pressures and continued strike action in many markets. It is inevitable that it will continue to be.” Higginson said.
Write to Sabela Ojea at [email protected].  @sabelaojeaguix