JD Sports hails strong full year results
JD Sports saw its pre-tax profit rise by 15.4% to £339.9 million in the year to 2 February.
Revenue climbed by 49.2% to £4.72 billion while like-for-like sales in its global sports fashion fascias grew by more than 6%.
The company attributed its success to a “relentless focus” on creating a “compelling differentiated proposition to the consumer”.
Peter Cowgill, JD Sports executive chairman, added: ” Whilst very conscious of the continued uncertainty surrounding the timing and nature of the UK’s exit from the European Union, we firmly believe that the elevated and dynamic multibrand multichannel proposition of the core JD fascia, which enjoys the ongoing support of the key international brands, has the necessary agility to continue to exceed consumer expectations and prosper in an increasing number of international markets.”
JD Sports saw a net increase of 39 stores under the JD fascia in Europe in the year and also opened 34 stores in its Asia Pacific region. In addition, it launched five stores in the US, including four that were conversions of existing Finish Line stores. JD Sports acquired Finish Line last summer and last month agreed to buy sports shoe retailer Footasylum.
Commenting on recent trading, Cowgill added: “Given the significance of Easter trading to the overall result of the group and the change in the timing relative to last year, any announcement of like-for-like sales performance in the year to date would lack precision. However, we are pleased with the continued underlying positive performance of the group and are excited by the major developments ahead.”
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