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JD posts record full-year results

Sales at JD Sports Fashion jumped up 20% to £1.8bn for the year to January 30, while operating profit before exceptional items soared 56% to £158m.

JD Sports on Oxford Street in London

JD Sports on Oxford Street in London

JD Sports on Oxford Street in London

Pre-tax profit for the group jumped 45% to £131m. 

The group’s sports fashion department had a “very pleasing performance” with like-for-like store sales growth of 10% for the second consecutive year. The outdoor category made “encouraging progress” and additional management changes were put in place during the year to drive further improvement in a “challenging market”.

Sales in sports fashion accounted for £1.6bn and made an operating profit of £162m. The outdoors part of the business made a loss of £3.9m on £155m of sales, which was an improvement on the £7.1m loss it made the the year before.  

A European store rollout continued, with a net increase of 38 stores for the JD fascia across Europe during 2015.

Total capital expenditure for the year was £83.5m, up from £70.2m the year before, and this is expected to increase further in the current financial year as the international rollout of JD continues to gain momentum.

Executive chairman Peter Cowgill said: “Given that last year’s result was a record for our group, the performance in the year was very pleasing, further demonstrating the increasing influence of the JD fascia in the UK and beyond.

”During the year we expanded our international presence with additional stores in existing European territories together with a number of stores in new countries. We continue to gain traction in Europe and are confident of the opportunities that exist for the JD fascia in these markets.”

He added: “We are encouraged by the continued positive trading across our core fascias in the year to date and the board continues to believe that the group is very well positioned for profitable growth.”

 

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