JD Sports is maintaining its profit guidance despite a volatile macro environment after the retailer reported 2.4 per cent sales growth in its second quarter.

Growth was strongest in North America, with like-for-like sales up 5.7 per cent, while in Europe sales increased by three per cent.

Even though the UK improved materially compared to the previous quarter, sales were still down by 0.8 per cent.

The sportswear giant said that while it will remain cautious in its outlook for the rest of the year, based on half trading and allowance for an anticipated £15 million headwind at current exchange rates due to a stronger pound, it predicts profit-before-tax of between £995 million and £1 billion on a pre-Hibbett basis.

In April, JD Sports announced it had agreed to buy US sports fashion retailer Hibbett for £899 million as part of its wider growth plans in North America, the largest sportswear market in the world.

The Birmingham, Alabama-headquartered company has 1,169 stores across 36 US states, where it sells footwear, apparel, and accessories from well-known sports brands including Nike, adidas, and Jordan.

Régis Schultz, chief executive of JD Sports Fashion said that its like-for-like sales growth and organic sales growth of 8.3 per cent over the quarter demonstrate the “strength and agility” of the company’s multi-brand model.

“In particular, we saw double-digit organic sales growth in North America and Europe, supported by the continued success of our JD store rollout programme,” continued Shultz. “We completed the acquisition of Hibbett, Inc. just before the period end and we look forward to its contribution to the growth and development of our US business in the coming years. Based on our first-half trading, we remain on track to deliver profit within our full-year guidance."

During the first six months of the year, JD Sports opened 85 new JD stores. Along with the Hibbett acquisition and the ongoing disposal of non-core stores, this means it ended the first half with 4,506 stores, up 1,189 from the start of the year.

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