UK's JD Sports boosts sales to $15.34 bn in FY25, expands footprint
British retailer JD Sports Fashion Plc has reported revenue of £11,458 million (~$15.34 billion) for fiscal 2025 (FY25) ended February 1, reflecting 12 per cent year-over-year (YoY) growth at constant currency, driven by 5.8 per cent organic sales growth and 0.3 per cent like-for-like growth. The gross margin declined slightly to 47.8 per cent due to the acquisitions of lower-margin retailers Hibbett and Courir.
The operating profit before adjusting items and lease interest remained stable at £937 million (~$1.26 billion), while profit before tax (PBT) and adjusting items dipped 4 per cent to £923 million, in line with January guidance. Statutory PBT declined 11.8 per cent to £715 million due to a £53 million increase in adjusting items. Adjusted basic earnings per share (EPS) stood at 12.39 pence, while basic EPS was 9.50 pence, down 3.3 per cent and 9.1 per cent respectively, JD Sports Fashion said in a press release.
JD Sports Fashion Plc has reported revenue of £11,458 million (~$15.34 billion) in FY25, up 12 per cent YoY at constant currency, driven by strong store performance and key acquisitions. Operating profit remained stable, while statutory PBT fell 11.8 per cent. Europe and North America saw solid growth; the UK declined. The company added 1,533 stores, expanded franchises, and focused on profitability.
The company generated £1.2 billion in operating cash flow net of lease repayments and ended the year with £52 million in net cash before lease liabilities. It spent £1.4 billion on the acquisitions of Hibbett and Courir, including debt repayments.
Regionally, JD Sports recorded revenue growth across all markets except the United Kingdom, which experienced a decline of 4.1 per cent, primarily due to non-core business divestments made over the past two years. In contrast, revenue in Europe increased by 9.5 per cent YoY, supported by two months of Courir's contribution. North America delivered a strong performance with a 27 per cent surge in revenue. Meanwhile, the Asia Pacific region posted modest growth of 0.4 per cent, despite a reduction in revenue of approximately £30 million due to the exit of certain non-core businesses.
Retail stores performed strongly, with revenue rising 15.7 per cent to £9,081 million, while online sales fell 2.9 per cent YoY, reflecting shifting consumer behaviour and a strategic focus on in-store investment. Stores contributed 79 per cent to revenue, online 20 per cent, and other segments like gym memberships 1 per cent.
By category, footwear led with a 15.2 per cent increase in revenue to £6,819 million, followed by apparel at £3,550 million and accessories at £702 million. JD Sports ended the year with 4,850 stores globally, up by 1,533. The company opened 311 stores and closed 263, while 50 stores were rebranded to JD across the US and Europe.
Strategically, JD Sports expanded its presence with new franchise partnerships in South Africa, Indonesia, and the Philippines. It advanced its global supply chain strategy, grew its JD Status membership to over 8 million, and earned recognition on the Carbon Disclosure Project's Climate A List, added the release.
'In April, we announced we were adapting our strategy to reflect slower anticipated market growth and an increased focus on profitability, leveraging the investments we have made to support our growth in the key markets of North America and Europe, delivering strong cash generation and improving returns to our shareholders,' said Regis Schultz, chief executive officer (CEO) at JD Sports Fashion Plc. 'We concluded two important acquisitions in our key strategic markets – Hibbett in the US and Courir in Europe – while we continued to invest in our infrastructure and controls environment.'
Fibre2Fashion News Desk (SG)
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