JD Sports Fashion offers ‘solid value’

JD Sports Fashion’s annual results tomorrow are expected to show that like-for-like sales rose by 4.2 per cent and analysts at Peel Hunt are forecasting a fall in profit before tax of 7.2 per cent, from £991 million to £920 million. The company has suggested a maximum profit before tax of £935 million.

The market will be looking out, too, for any indication of trends in trading amid general concerns about the health of retailers selling discretionary items. JD Sports issued a profit warning in January, saying that consumers were being “more cautious” with their spending.

Peel Hunt’s analysts said it was unlikely that the group would announce profits lower than its forecast range and argued that its shares were “very cheap” at their present