British JD Sports has managed to boost both its turnover by 31 % and its profit before taxes even by 81 % in the past fiscal year.
54 new stores
The company’s total turnover reached 2.4 billion pounds (2.8 billion euro) in 2016 and its pre-tax profit shot up to 238 million pounds (280 million euro). It even managed a double-digit growth in its Sports Fashion division, for the third straight year.
“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“, chairman Peter Cowgill said. Not only did it open 54 stores on the European mainland, it is also completing the acquisition of the British Go Outdoors chain. It also opened two stores in Malaysia and has plans for a first Australian store.
For its current fiscal year, JD Sports does not expect Dutch chains Aktiesport and Perry Sport to contribute at all, following their acquisition from bankrupted Unlimited Sports Group. The company’s first goal is to stabilize the chains and invest in additional stores and a remodeling operation.
