First-half growth for JD Sports
Retail group JD Sports has reported interim results for the first half of its business year, the period covering the 26 weeks to July 29, 2023.
Its sales revenues for the period were just over £4.75 billion, an increase of 8.3% compared to the same period last year.
It said it was on course to add more than 200 new JD stores globally by January 2024 and that new distribution centres were also on track. It said its new leadership and organisation structure were bedding in well, and that its relationships with key sports brands were strong.
Commenting on the results, Régis Schultz, who became chief executive of JD Sports in August 2022, said: “Growth is being driven by our premium sports fashion business, with an impressive performance in Europe (+27%) and North America (+15%), supported by a strong performance in our more mature UK market (+8%).”
He said the group would seek to accelerate JD brand growth in Europe through further acquisitions, including of stores in France previously run by GAP.
