JD Sports has credited its choice of third-party brands and US store expansion for increases in like-for-like sales of 2.4%, and organic sales growing by 8.3%.
Régis Schultz, CEO of JD Sports Fashion Plc, said this growth demonstrated “the strength and agility of our multi-brand model. In particular, we saw double-digit organic sales growth in North America and Europe, supported by the continued success of our JD store rollout programme.”
LFL growth in North America was 5.7%, and Europe saw a 3.0% increase, while the UK improved materially.
“We completed the acquisition of Hibbett, Inc. just before the period end and we look forward to its contribution to the growth and development of our US business in the coming years. Based on our first-half trading, we remain on track to deliver profit within our full-year guidance,” explained Schultz.
JD Sports noted that the overall market remains “volatile”, but stressed it showed good promotional discipline and managed inventory proactively to support gross margins in Q2.
JD Sports was ranked Leading in this year’s RetailX UK Top500 report. Fashion dominated the Leading list, with JD Sports joined by Asos, River Island, Joules, New Look, Uniqlo, Urban Outfitters and Zara, footwear retailer Schuh, and outdoor fashion retailer The North Face.
In the 2023 report, JD Sports was ranked Elite with an exclusive interview highlighting how its multichannel strategy was behind the company’s success.
The interview covered how the self-styled “King of the Trainers” is working towards an ambitious target: to become the “leading global sport fashion powerhouse”.
Putting the omnichannel customer experience at the heart of the business is key to achieving that, said Sherilyn Paterson, group operations director at the brand’s parent company JD Group. That means investing to support JD’s new five-year strategy.
That strategy has four main pillars – JD brand first, complementary concepts, beyond physical retail, and people, partners and communities. Read the full interview here.
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