Profits up at JD Sports Wed, 8th April 2009 Profits up at JD SportsWednesday April 8th 2009
 JD Sports fashion has bucked the market to report a 24 per cent increase in group profits, to £53.6m before tax and exceptional items. Total revenues at the company for the 52 weeks ending 31 January grew by 13.3 per cent, and by 3.9 per cent like-for-like. "The year ended 31 January has been the fifth successive year of good progress in revenue and profitability for the Group. We have improved our profit before tax and exceptional items by 24 per cent in the year. This follows increases of 73 per cent and 51 per cent in the previous two years," says JD executive chairman Peter Cowgill. The group improved its gross margin by 0.1 per cent to 49.3 per cent in the year to the end of January. The period also saw expansion by the retailer, which opened 18 new stores and refurbished 32. The company has hinted that it has started the new financial year in similar fashion. "Against the backdrop of current market and economic conditions, trading in the nine weeks to 04 April 2009 has been encouraging with Group like-for-like sales up 0.3 per cent despite last year's figures including the complete Easter trading period," says Cowgill. Share this article
Should your colleagues be reading the Retail Bulletin? 
|
