UK retailer JD Sports Fashion delivers strong H1 sales

JD Sports Fashion, a UK-based leading retailer of sports, fashion and outdoor brands, posted growth in revenues to £3,885.8 million during the first half (H1) of FY21 ended on July 31, 2021, against the revenue of £2,544.9 million in the same period of previous fiscal. The group’s performance during the six-month period was driven by a number of recently acquired businesses.

 

JD Sports Fashion, a UK-based leading retailer of sports, fashion and outdoor brands, posted growth in revenues to £3,885.8 million during the first half (H1) of FY21 ended on July 31, 2021, against the revenue of £2,544.9 million in the same period of previous fiscal. The group's performance was driven by a number of recently acquired businesses.#

“The group continues to demonstrate outstanding resilience in the face of numerous challenges arising from the continued prevalence of the COVID-19 pandemic in many countries, widespread strain on international logistics and other supply chain challenges, materially lower levels of footfall into stores in many countries after reopening and the ongoing administrative and cost consequences resulting from the loss of tariff free, frictionless trade with the European Union,” Peter Cowgill, executive chairman at JD Sports Fashion, said in a press release.

 

JD Sports Fashion, a UK-based leading retailer of sports, fashion and outdoor brands, posted growth in revenues to £3,885.8 million during the first half (H1) of FY21 ended on July 31, 2021, against the revenue of £2,544.9 million in the same period of previous fiscal. The group's performance was driven by a number of recently acquired businesses.#

“Given these challenges, the record result that the group has delivered in the first half with a profit before tax and exceptional items of £439.5 million (HY1 FY20: £61.9 million) is extremely encouraging,” Cowgill continued.

 

JD Sports Fashion, a UK-based leading retailer of sports, fashion and outdoor brands, posted growth in revenues to £3,885.8 million during the first half (H1) of FY21 ended on July 31, 2021, against the revenue of £2,544.9 million in the same period of previous fiscal. The group's performance was driven by a number of recently acquired businesses.#

According to the British retailer, sales from recently acquired Shoe Palace business totalled to £204.8 million, while sales from DTLR business for the period stood at £192.5 million. Furthermore, sales from MIG business during the part period post acquisition was £64.5 million.

 

JD Sports Fashion, a UK-based leading retailer of sports, fashion and outdoor brands, posted growth in revenues to £3,885.8 million during the first half (H1) of FY21 ended on July 31, 2021, against the revenue of £2,544.9 million in the same period of previous fiscal. The group's performance was driven by a number of recently acquired businesses.#

Moreover, the impact of the fiscal stimulus in the US was reflected in the fact that revenues in the group's pre-existing Finish Line business increased to £953.3 million (£825.5 million). There was also a very robust performance from the core JD business in the UK and Republic of Ireland where revenues escalated to £1,008.3 million (£685.2 million), the company stated.

 

JD Sports Fashion, a UK-based leading retailer of sports, fashion and outdoor brands, posted growth in revenues to £3,885.8 million during the first half (H1) of FY21 ended on July 31, 2021, against the revenue of £2,544.9 million in the same period of previous fiscal. The group's performance was driven by a number of recently acquired businesses.#

“Ultimately, the group is at the pinnacle of the global sports fashion industry with consumers instinctively knowing that our retail propositions focus on their fashion desires and aspirations in both footwear and apparel, with an agile multichannel ecosystem delivering the highest standards of retail execution and consumer experience. This is respected by the international brands who regularly call JD out as a premier global strategic partner,” Cowgill said in the release.

 

JD Sports Fashion, a UK-based leading retailer of sports, fashion and outdoor brands, posted growth in revenues to £3,885.8 million during the first half (H1) of FY21 ended on July 31, 2021, against the revenue of £2,544.9 million in the same period of previous fiscal. The group's performance was driven by a number of recently acquired businesses.#

“At this time, we are generally encouraged by our performance in the first few weeks of the second half although retail footfall remains comparatively weak in many countries. Assuming a prudent but realistic set of assumptions for the peak trading period ahead which take into account the absence of stimulus in the US for the second half of the year, in addition to current industry-wide supply chain challenges, we presently anticipate delivering a headline profit before tax for the full year of at least £750 million,” Cowgill said.