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Gloucestershire Business News

Positive outlook for JD Sports

Britain's biggest sportswear retail JD Sports said it has been encouraged by its performance since stores reopened following coronavirus restrictions.

The retailer, which has a store in Gloucester, said first half pre-tax profit fell 68 per cent to £41.5m due to the effects of Covid-19 store closures. But it predicts full year profits to be at least £256m, as reported by Reuters.

Initial sales in reopened stores were boosted by pent-up demand and shoppers looking for a bargain. But footfall remains lower than usual, particularly across Europe.

The company said the reduction in footfall was partly offset through higher transaction values - as shoppers only visited the stores when they intended to buy something.

JD Sports is now trying to establish a permanent European supply chain infrastructure, as the UK's transition period with the EU enters its final months.

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