JD Sports closed 10% higher as American sales drove growth

JD Sports Fashion Plc (LSE:JD) shares closed Thursday more than 10% higher, thanks to a strong trading performance in its second quarter.

It was driven mainly by strong sales in its North American division.

Group like-for-like sales were up 2.4%, while organic sales rose by 8.3% for the period – in North America like-for-like sales were up 5.7% and organic sales was up 13.7%.

In the UK, JD’s like-for-like sales were down by 0.8% albeit this was better than the 6.4% decline in the preceding quarter.

The company noted its acquisition of Hibbett in July, which added 1,179 stores and enhanced its presence in the North American market.

Despite a volatile retail environment, JD Sports has maintained full-year profit guidance which sees pre-tax profits between £955 million and £1.035 billion.

In London, JD shares gained 13.7p or 10.69% to close at 141.85p.