Home Business News JD Sports posts record results

JD Sports posts record results

by LLB Reporter
16th Apr 19 10:34 am

JD Sports has posted record results as the retailer has been looking abroad for growth opportunities, the group reported a 49.2% increase in annual revenue to £4.7bn in the 52 weeks to 2 February. Profit before tax was up by 15.4% to £339.9m.

The sports retailer said they are “not immune” to the high street challenges that are facing the UK retail sector. However, the British and Irish businesses had seen a rise in sales and profitability.

Bricks and mortar stores are having a good influence, as the estate “raises brand awareness, provides consumers with an opportunity to physically see and try the product, and enables us to provide multiple delivery points.”

Peter Cowgill, executive chairman said, “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.”

Richard Lim, chief executive of retail economics said, “These results show that standing out in a crowded market with exclusive products, a unique proposition and placing the experiences at the heart of the store is a winning formula in today’s digital age.”

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