Sales at JD Sports jumped 10% to £11.5bn, but UK revenues fell 3.7% to £2.7bn as the sports retailer continues to operate in “a volatile market”.
In its latest results for the 52 weeks to 01 February, JD Sports’ pre-tax profits were down 11% to £715mn. When including adjusting items, pre-tax profits fell 4% to £923mn.
The athleisurewear retailer said it continues to invest in infrastructure, with acquisitions of Hibbett in the US and Courir in Europe.
Régis Schultz, chief executive officer of JD Sports Fashion Plc, said: “In April, we announced we were adapting our strategy to reflect slower anticipated market growth and an increased focus on profitability, leveraging the investments we have made to support our growth in the key markets of North America and Europe, delivering strong cash generation and improving returns to our shareholders.
“Our focus on increasing shareholder returns is demonstrated by paying FY25 dividends of £52m, up 11% on the previous period, and after the period end, the commencement of a £100m share buyback programme.
“Overall trading in the first quarter of the new financial year has been in line with our expectations in a volatile market. Despite this volatility, and uncertainty surrounding the impact of US tariff changes, we look forward into the medium term with confidence that we can continue to outperform the market, improve our profit margin and create significant value for our shareholders.”
Earlier this year, JD Sports was ranked in the Top50 of the RetailX UK500 report, see the full list by downloading the full report.
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