JD Sports delays full-year results & reveals 75% salary cut for CEO

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JD Sports covid-19 pandemic
Executive chair Peter Cowgill has volunteered for a 75% salary cut
// JD Sports delays its preliminary results to July 7
// The retailer is looking to “preserve capital” so there will be no final dividend

JD Sports has delayed the publication of its preliminary results for the 12 months to February 1 and has ruled out a final dividend, becoming the latest retailer to cut costs during the coronavirus pandemic.

The sportswear retailer is looking to “preserve capital” and said there would be no final dividend.

“It is the board’s current intention that the group would look to resume dividend payments when conditions allow,” JD Sports said.


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“The board and senior management team in the group have agreed to voluntary salary reductions of at least 25 per cent for the current period of disruption.”

Meanwhile, executive chair Peter Cowgill has volunteered for a 75 per cent salary cut.

“The board believes that it is in the best interests of investors and other stakeholders for the group to announce its results at a later date, so as to provide the greatest amount of clarity on the impact of Covid-19 on the group’s performance for the current financial year to January 30, 2021,” JD Sports said.

It will now release its full-year results on July 7.

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4 COMMENTS

  1. @Sahar Nazir – the author of this great subject line. Why don’t you apply for a job to the Daily Mail? This article has so bad subject line. Complete mislead, clickbait.
    To the Retail Gazette Management Team – remember your article are read by professionals and you don’t want to loose them. Don’t turn in the wrong way by providing such subject lines to the articles. Especially during this bad time – nobody wants to see bad news anymore. Why don’t you correct this subject line into something positive? As – it is actually a quite positive one? Best regards

  2. @Dawid – the author of this great comment. What do you mean by “loose” them? Perhaps you should apply for a job with the Daily Mail.

  3. @John Thomas – Author edited now the subject so it is all clear. The previous subject was “JD Sports delays full-year results and reveals salary cuts”. Some people might be thinking that JD Sports isn’t doing the right thing by reading this subject. But it is actually opposite. It is now changed so it is fine now. I have asked a few of my friends about this article and they all had the same impression. I’m not trying to attack someone here, I do like Retail Gazette as they usually provide very useful information. I just do not want them to turn into crap information provider. Good job Sahar! Btw… I believe lot’s of professionals use Retail Gazette as a research source and I meant that the readers could go away;) English is not my first language, so sorry for any mistakes.

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