JD Sports has posted a record year with its sales to February 3rd up by 33 per cent to more than £3bn and a 24 per cent rise in pre-tax profit to £294.5m. This is in stark contrast to the experience of many other retailers and is attributable, according to executive chairman Peter Cowgill, to a focus on meeting demand for the most aspirational footwear and leisurewear. The retail group had also improved the performance of its outdoor business unit which includes Blacks, Millets and Go Outdoors.
With new stores opened n Australia and South Korea, in addition to the 56 it operates across Europe, the retailer agreed terms in March to acquire The Finish Line – a US trainer supplier. The Finish Line operates 556 own brand stores and over 500 exclusive sport shoe concessions in Macy’s. This acquisition will commented Peter Cowgill, provide a significant opportunity for JD to expand its presence on a global basis. JD will initially test its own branding on a small number of the acquired US stores before considering a full rollout of the JD Sports fascia across the USA.
In addition, there is further investment ring fenced for online development in the current year but, for JD Sports, bricks and mortar will remain the key focus.
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