Outdoor losses dint JD Sports' £100m profit
17/04/2015
The group’s chairman, Peter Cowgill, described a “buoyant market” for branded athletic footwear across Western Europe.
He added: “I am delighted to report that our continuing operations have delivered a record result for the year with a headline profit before tax and exceptional items in excess of £100 million for the first time.
“We are also encouraged by the performance of Sprinter in Spain and Chausport in France. In so far as this progress continues, we anticipate further growth in overseas markets.
Outdoor had a difficult second half following the very mild autumn and winter and recorded a loss of £4.9m (2014: £8.0m).
Mr Cowgill said of the sector: “We continue to work with our branded partners and our own brand supply chain to improve our product proposition and market positioning to achieve a more focused consumer targeting for each part of our business. Property investment, both in terms of new stores and refitting existing stores, is also required but will be driven by the strength of the proposition and the property costs in each location.”
The group opened 19 stores for JD and footwear retailer Size? during the year.
The business had 660 sports fashion stores, including 351 JD Sports outlets in the UK and Ireland and 70 shops in Europe. It also owns 184 outdoor stores.
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