Significant shift in footwear product cycle, JD says
Sports retail group JD Sport has reported full-year revenues of nearly £12.7 billion. This was for the 12-month period ending January 31. The figure represents an increase of 10.5% compared to the previous year.
“Our business model is underpinned by our strong, agile and multi-brand assortment of products,” the group said.
It said footwear accounted for 60% of total group revenues. JD explained that there had been “a significant shift in the global footwear product cycle” throughout the reporting period.
Notwithstanding, the retail group said it had seen strong growth in sales of footwear from brands “less affected by transition”. It added that the early signals for newer, smaller footwear brands it has begun to work with were encouraging, particularly in the running category.
“Although small today, these present an exciting longer-term opportunity,” it concluded.
