JD Sports and Next Plc report robust growth amidst challenging retail sector By Investing.com

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JD Sports and Next Plc report robust growth amidst challenging retail sector

Published Sep 21, 2023 09:54

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JD Sports and Next Plc report robust growth amidst challenging retail sector

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JD (NASDAQ:JD) Sports Fashion Plc, a key player in the retail industry, has revealed a substantial revenue increase for the first half of the year. The company's primary division experienced a 27% growth in Europe and a 15% rise in North America, offering a counterpoint to the broader negative sentiment in the sector. This comes after its American rival, Foot Locker (NYSE:FL) Inc., issued a profit warning last month.

Meanwhile, Next Plc, renowned for its clothing and homeware lines, has also posted an upbeat business update. The company has raised its forecast for the third time in recent months. This positive revision is credited to wage increases driven by inflation and favourable weather conditions at the start of summer, which have encouraged consumers to buy more clothing.

Next Plc expects that inflationary pressures will likely ease next year, further underpinning its optimistic outlook. This stands as a stark contrast to the wider market sentiment that has been overshadowed by economic concerns and warnings from other industry participants.

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JD Sports and Next Plc report robust growth amidst challenging retail sector

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