JD Sports set for £1bn profit
By Sarah Wood | 21st September 2023
Sportswear giant, JD Sports, is on track to increase its profits to more than £1bn.
The retailer, which has stores in Cheltenham and Gloucester, posted profit before tax of £375.2m for the 26 weeks to July 29 - an increase of 25.8% on the same period last year, as reported by Retail Gazette.
Sales were up 8.3% to £4.78bn for the period, up from £4.4bn on the same period in 2022.
The retailer added said it is on track to open 200 new stores worldwide by January 2024.
JD Sports said growth was being driven by its premium sports fashion business, with sales up 27% in Europe and 15% in North America, supported by an 8% rise in the UK.
The retailer added that its core consumers are remaining resilient, despite continued global macro-economic challenges.
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