- JD Sports (OTCPK:JDSPY +8.7%) lifted its FY profit guidance by £150M to £750M ($1,040M) after record first half sales driven by US shoppers spending stimulus checks on the company's athleisure gear. Pretax profits also reached a record £364.6M ($500M), nearly nine times what the company made during COVID.
- Global supply chain disruptions remain a headwind and the company said that it may have trouble meeting demand for products in some categories, like bikes. "We remain cautious about both the potential for further restrictions on trading through the usual peak trading period prior to Christmas," the company commented.
- The company, which has purchased competitors Finish Line, DLTR, and Footasylum, said it would not pay a half-year dividend to shareholders, promising a higher end-of-year payment to take "into account the consequences of any potential further restrictions on trading."
- Peer Lululemon (LULU -0.8%) is also firing on all cylinders after a strong second quarter.