JD Sports makes strong start despite "challenging" comparatives

High street sports retailer JD Sports Fashion said it expects to meet annual forecasts after a solid start to the year despite tough comparatives and weaker margins in Europe.

The group said that it made a “strong start” over the first 19 weeks of the financial year starting 31 January.

JD said it was pleased with the growing level of sales in Europe, but the weaker euro will affect margins in its stores outside the UK.

Executive chairman Peter Cowgill said: “Whilst we are now trading against challenging comparatives for the remainder of the year, the board remains confident that current earnings expectations for the group for the year ended 31 January 2016 should be met."

Consensus forecasts point to a pre-tax profit of £108.4m this year, up from £90.5m the year before.