JD Sports enjoys record year
JD Sports has reported a year of record results after pre-tax profit before exceptional items climbed by 57% to £157.1 million.
In the year to 30 January, revenue grew to £1.82 billion from £1.52 billion a year earlier.
The retailer said it achieved a “very pleasing” performance in its sports fashion business with like-for-like store sales growth in excess of 10% for the second consecutive year. This resulted in operating profit before exceptional items increasing by 49% to £162.9 million.
Its outdoor fascias, which include Blacks and Millets, reduced their operating loss before exceptional items to £4 million from £7.1 million in the previous year. JD Sports said the loss in the current year arose largely from initial losses and other significant property related costs associated with the newer larger space Ultimate Outdoors stores which remain a trial at this stage.
Peter Cowgill, JD Sports executive chairman, said: "Given that last year's result was a record for our group then the performance in the year was very pleasing, further demonstrating the increasing influence of the JD fascia in the UK and beyond.
"We are encouraged by the continued positive trading across our core fascias in the year to date and the board continues to believe that the group is very well positioned for profitable growth."
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