Apr 11, 2017
JD Sports' profits boosted by fashion for fitness wear
The "Athleisure" trend led to an 81% increase in pre-tax profits last year to £238.4m. Even the previously loss-making outdoor brands, Millets and Blacks, have made money for the first time since JD Sports acquired them. Peter Cowgill, executive chairman said "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." The company has 900 outlets are in the UK. The group opened 54 stores across Europe last year and opened a further two stores in Malaysia. "Whilst we must recognise 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," said Mr Cowgill. JD Sports denied allegations that it operated a "Three strikes" policy before dismissing workers and that workers were being underpaid.
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