JD Sports gets Euro 2016 boost and forecasts 'excellent' first half

Celebration: JD Sports has benefited from the Euro 2016 football Championship, in which England beat Wales 2-1 on Thursday

Christopher Lee - UEFA/UEFA via Getty Images

Clare Hutchison17 June 2016

JD Sports boss Peter Cowgill has woken up with two reasons to celebrate – not only did England beat Wales in their Euro 2016 group match last night, but he was able to tell investors the tournament is boosting sales at the retailer.

“We have, in recent weeks, seen a further boost to sales from the UEFA Euro 2016 Tournament. Consequently, we are well positioned to deliver an excellent first half year result,” he said ahead of the company’s annual shareholder meeting.

The chain has the exclusive selling rights for the Welsh and Irish Euro 2016 kits and also sells the English strip.

JD Sports, which also owns the Blacks and Millets chains and will deliver its half-year figures in September, has been on a roll in recent months, posting record profits for its year-ended in January.

The growth has come on the back of the trend for branded trainers and sports fashion, helping it outpace fierce rival, Sports Direct.

Cowgill added JD Sports is facing tough comparatives but “our strong start will help facilitate delivery of current market expectations”.