JD Sports first-half pre-tax profits up 19% after “record result”

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JD Sports’ chairman Peter Cowgill hailed a “record result” for the retailer after it posted a 19 per cent boost in pre-tax profits in the 26 weeks to August 4.

The sports and fashion retailer said group EBITDA increased by 26 per cent with like-for-like sales up three per cent against “a backdrop of widely reported retail challenges in the UK”.

As for expansion, JD Sports continued to roll out new stores across its emerging markets, with a net increase of 18 in mainland Europe and 21 in Asia Pacific, including its first stores in South Korea and Singapore.

“This is another record result for our group demonstrating that our multibrand multichannel premium offer has resilient profitability in its core UK and Ireland market with capacity for continued growth across an increasing number of international markets”, Cowgill said.

“Against a backdrop of widely reported retail challenges in the UK, it is extremely reassuring that the profitability in the UK and Ireland Sports Fascias has been further enhanced.

“This reflects the value of the investments that we have made over a number of years in developing a dynamic multichannel proposition which marries the best of physical and digital retail enabling customers to interact with us where and when they want and through the channel of their choice.”

Cowgill added that sales in the second half to date have continued “at similar levels” to those in its first half, with “continued confidence in the robustness” of the JD Sports brand.

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