Footwear drives 20% first-half revenue rise at JD Sports
17/09/2015
Profit before tax grew 88% to $44,708.
Chairman Peter Cowgill said: "In an extremely competitive market for sports fashion footwear across Europe, we must acknowledge that the levels of organic growth that we have seen over the last two years are unlikely to continue indefinitely, albeit the JD brand continues to strengthen and further opportunities prevail.
“Our current successful exploitation of these favourable market conditions reflects investments that we have made over a number of years in developing our multi-channel retail proposition and driving improved buying, merchandising and retailing disciplines. We continue to invest heavily in these areas.”
It added 27 stores across Europe (including 13 Sprinter stores) and the revenues in those stores are in line with management's expectations.
“We believe that we can achieve the same market leading reputation with customers and brands in mainland Europe where we remain confident in our prospects, despite some significant headwinds on margin from recent weakness in the euro,” added Mr Cowgill.
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