Britain’s leading apparel sports retailer JD Sports has announced its financial results for the fiscal year ended 28 January 2017. The company registered 31 per cent increase in total revenue to Pound 2.37 billion compared to last year’s Pound 1.82 billion. Operating profit in this year stood at Pound 246.2 million as against Pound 158.9 million in previous year.
In the Sports Fashion category, the company generated revenue of Pound 2.18 billion as against Pound 1.6 billion. Operating profit totalled Pound 246.2 million, driven by a very strong performance in Sports Fashion with Outdoor delivering profit for the first time.
“The foundation of this success remains our core Sports Fashion fascias where JD’s continued strength in its core markets is increasingly being complemented by momentum in our international development, with a net increase of 54 JD stores across mainland Europe during the year,” said Peter Cowgill, Executive Chairman, JD Sports.
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Also, in this financial year, European development accelerated with a net increase of 54 stores, up from 38 stores for the JD fascia across Europe. Furthermore, two stores in Malaysia will be opened in the current year.
Commenting on the positive trading, Cowgill added, “This has been another period of very significant progress for the group with the headline profit before tax and exceptional items increased by 56 percent to 244.8 million pounds (304 million dollars). Over a three- year period the result has improved by more than 190 percent. Whilst we must recognize that there are external influences which may impact the latter part of the year, notably inflationary pressures arising from Brexit, the board remains confident in the robustness of the JD proposition and believes that the group is well positioned for further profitable growth.”