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Revenues double again at JD Sports

Revenues have once again almost doubled at JD Sports Fashion for the six months to 3 August 2019. 

Group revenue jumped 47%  compared with the same period last year to £2.7bn. EBITDA at the sportswear retailer grew 37% to £235m. 

The group reported an operating profit of £200m, a 61% increase on the previous year. Profit before tax grew by 7% to £122m. 

International expansion continued apace at the retailer, with a net increase of 23 JD stores across Europe, seven in the Asia Pacific region and six now trading in the US. 

Executive chairman Peter Cowgill said: “Against a backdrop of widely reported retail challenges in the UK, it is extremely encouraging that JD has delivered like-for-like sales growth of more than 10%, with an improved conversion reflecting consumers’ increasingly positive reaction to our elevated multichannel proposition, where a unique and constantly evolving sports and fashion premium brand offer is presented in a vibrant retail theatre with innovative digital technology.

“JD also continues to gain momentum in Europe, with a further double-digit increase in total like for like sales and a net increase of 23 stores in the period.”

In its last full-year trading update, revenue almost doubled to £4.7bn for the 52 weeks to 2 February 2019, as JD Sports defied high street gloom by steering clear of reactive discounting and maintaining a clear customer proposition.

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