Growing sports fashion business delivers double-digit growth for JD

JD Sports Fashion plc has reported double-digit growth in its profits and revenues for the year ending January 30 2016.

The Bury-headquartered retail group has today (April 14) posted a pre-tax profit of £131.6m, a 45% increase against the £90.5m figure reported last year.

Bosses at JD have attributed the growth to a stronger performance in the firm’s Sports Fashion business, which saw operating profits rise by 49% to £162.9m, as well as a reduction in the impact of its currently loss-making Outdoor business, where losses fell by 43.7% to £4m.

JD’s total revenue, meanwhile, increased by 20% to reach around £1.82bn.

Over the course of the year, JD opened a raft of new stores across the UK, the Republic of Ireland, Europe and Asia. Its Sports Fashion division saw 114 openings, bringing its store count to 736, while its Outdoor arm now operates across 182 stores after seeing 14 openings.

JD’s executive chairman, Peter Cowgill, 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.

“During the year we have expanded our international presence with additional stores in existing European territories together with a number of stores in new countries.”

He continued: “We continue to gain traction in Europe and are confident of the opportunities that exist for the JD fascia in these markets.

“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.”

In addition to its clothing business, JD also operates the JD Gyms chain of fitness centres, one of which is due to open at Rochdale Exchange next month.

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