JD Sports Fashion profits leap 73%

Retailer JD Sports Fashion Plc has achieved double-figure profit and revenue growth for the 26 weeks to July 30.

The Bury-headquartered company saw its half-year turnover hit £970.5m, a year-on-year increase of 20%, while its pre-tax profits leapt by 73% to £77.4m.

Of the total revenue, JD’s core sports fashion business accounted for £897m and its outdoor segment just over £73m.

Elsewhere, the period saw ample movement in JD’s global store portfolio, with the company operating across 953 locations under various brands by July, in comparison to 736 stores at the start of the half-year.

The firm also grew its footprint within the health and fitness sector after opening new JD-branded gyms in Rochdale and Washington to complement its existing training suites in Liverpool, Preston, Hull and Coventry.

This month, JD plans to open additional gyms in Wigan and Leeds.

Peter Cowgill, the executive chairman of JD Sports Fashion, said: “The favourable trends for athletic inspired footwear and apparel in Europe have continued into this year.

“We are very much at the centre of this market with our success being a positive consequence of the investments we have made over a number of years to develop the JD retail concept.”

He added: “Notwithstanding the demanding comparatives going forward following the strong revenue growth in the previous three years, the positive nature of trading in the second half to date is encouraging.”

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