×
39 544
Fashion Jobs
CENTRIC BRANDS
District Manager - Orange County, California
Permanent · San Diego
ESTÉE LAUDER
Retail Beauty Sales Manager - Estee Lauder - Indianapolis, in
Permanent · Indianapolis
ESTÉE LAUDER
Retail Beauty Sales Manager Estee Lauder And Clinique - Fort Wayne, in
Permanent · Indianapolis
ESTÉE LAUDER COMPANIES
Manager, Indirect Procurement - HR Services
Permanent · New York
ESTÉE LAUDER COMPANIES
Corporate Account Executive
Permanent · Miami
JO MALONE LONDON
Retail Fragrance Sales Manager - jo Malone London - (The Grove) - Los Angeles, ca
Permanent · Los Angeles
CLINIQUE
Retail Beauty Sales Manager - Clinique - Birmingham, al
Permanent · Birmingham
LA MER
Retail Beauty Sales Manager - la Mer - (Polaris) - Columbus, oh
Permanent · Columbus
GAP
Senior Manager, CRM
Permanent · New York
GAP
Marketing Manager, Promotions - Gap Factory Online
Permanent · San Francisco
GAP
General Manager - Livingston
Permanent · Livingston
SAKS FIFTH AVENUE
Divisional Vice President, Omni Inventory & Shortage Control
Permanent · New York
HUDSONS BAY
Gift Registry Consultant
Permanent · Edmonton
SAKS FIFTH AVENUE
Cosmetic Business Manager - Armani
Permanent · Toronto
NEW BALANCE
Entertainment Marketing Manager
Permanent · Boston
NEW BALANCE
Vice President Global Lifestyle
Permanent · Boston
DVF STUDIO, LLC
Production Manager
Permanent · New York
MACY'S
Macy’s Green Acres Mall, Valley Stream, ny: Sales Supervisor
Permanent · Valley Stream
MACY'S
Marketing Manager - Wedding Registry
Permanent · New York
MACY'S
Macy’s Cross County Mall, Yonkers, ny: Sales Supervisor
Permanent · Yonkers
MACY'S
Supply Chain - Secaucus, nj - Operations Manager
Permanent · Secaucus
MACY'S
Macy’s Manhasset, Long Island, ny: Sales Supervisor
Permanent · Manhasset

JD Sports stays strong, Finish Line key but still a work in progress

Published
today Apr 16, 2019
Reading time
access_time 3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

JD Sports Fashion’s results announcements always make encouraging reading for anyone who wants some relief from the endless stream of sales drops, administration filings and profit warnings that seem to characterise the UK retail sector at the moment. And on Tuesday, the company’s preliminary results for the 52 weeks to February 2, offered plenty of that relief.


JD Sports remains one of the most successful chains in the UK and increasingly abroad



The company said its revenue was up 49.2% compared to the 53 weeks ended February 3 last year. With revenue of £4.717bn, JD is clearly riding high, although it has to be said that part of that surge was down to acquisitions. Its revenue divided into £2.137bn in the UK, £1.368bn in Europe, £967m in the US and £244m in the rest of the world. While the £967m US figure gave the overall revenue figure a huge boost based purely on the Finish Line acquisition, even without it, overall group revenue would have risen by £589.4m.

Gross profit may have dropped to 47.5% from 48.4% in a tough market to which JD said it’s not immune, but profit on an Ebitda basis rose 26.8% to £488.4m, and operating profit before exceptional items was up 17.1% to £361.5m. Pre-tax profit rose 15.4% to £339.9m.

The company said it saw “encouraging total like-for-like sales growth in global Sports Fashion fascias of more than 6% against a backdrop of widely reported retail challenges in the group's core UK market.” It even managed double-digit Ebitda in its Outdoor chains after “a particularly weather-challenged trading period.”

Executive chairman Peter Cowgill said: “We firmly believe that the elevated and dynamic multi-brand multichannel proposition of the core JD fascia, which enjoys the ongoing support of key international brands, has the necessary agility to continue to exceed consumer expectations and prosper in an increasing number of international markets.

“We believe that our acquisition of the Finish Line business in the largest market for sport lifestyle footwear and apparel and the home to many global sportswear brands, will have positive consequences for our long-term brand engagement whilst significantly extending the group's global reach.”

Frustratingly he gave no update on current trading, citing the impact of Easter calendar shifts and saying "any announcement of like-for-like sales performance in the year to date would lack precision.” But he added that he’s “pleased with the continued underlying positive performance of the group and excited by the major developments ahead.”

EUROPE, APAC AND THE US

And those developments will be significant, especially as it grows abroad. JD is now in 10 mainland Europe countries having recently opened in Finland, and its first Austrian store will open in the first half. Its team in Iberia is also progressing with “an accelerated process to integrate the Sport Zone fascia into the Sprinter commercial operations.”

In Asia Pacific, it has opened its first stores in Singapore, Thailand and South Korea, with its local partner Shoemarker, and now has 16 JD stores, which includes 14 conversions of the multi-brand Hot-T chain that was acquired in the previous year.

And as mentioned, it's extremely upbeat on its American operations and believes Finish Line "is capable of delivering improved levels of profitability.”

It opened its first five JD stores in the US prior to the key holiday season too, which included the conversion of four existing Finish Line stores. The company said it’s too early for any conclusions on the potential for JD there “as these stores do not currently contain a full representation of the JD product offer, particularly apparel.” Given lead times on ordering it will take until the second half to sort this out. Its stores have also lacked the benefit of full digital support but will get that “later in the spring leveraging off the Finish Line digital expertise.” However, it’s “encouraged with the early results and we are using the learnings to further refine our proposition.”

Copyright © 2019 FashionNetwork.com All rights reserved.