Apr 16, 2019
JD Sports sales rise despite decline in UK high street
JD Sports has continued to outperform the struggling UK retail sector as the sportswear group reported rising sales despite the decline of the high street. In the year to the beginning of February, the company saw like-for-like sales growth of 6 per cent from its sports fashion stores, which it said came despite "a backdrop of widely reported retail challenges" in its core UK market. "JD is not immune to the widely reported challenges to physical retail in the UK with lower footfall on many high streets, malls and retail parks combined with cost challenges from increasing minimum wage rates and rises in business rates," said Peter Cowgill, executive chairman. "Therefore, it is very pleasing that the core UK and Ireland Sports Fashion fascias, the most mature part of our group, have delivered a further increase in sales and profitability." Overall the group reported an increase in revenue of 49 per cent to £4.72bn as it expanded store numbers in Europe and Asia, where it opened a further 39 and 34 shops respectively during the year.
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