Latest news with #Hibbett
The Intercept
17 hours ago
- Politics
- The Intercept
The Intercept Appoints Maia Hibbett as Managing Editor
Support Us © THE INTERCEPT ALL RIGHTS RESERVED The Intercept welcomes back Maia Hibbett, who is returning to the publication as managing editor. In this position, Hibbett will shape The Intercept's distinctive coverage and oversee newsroom operations. 'We are thrilled to welcome Maia back to The Intercept. Her experience and skills will help us take on powerful interests and produce journalism with real impact,' said Ben Muessig, The Intercept's editor-in-chief. Hibbett was most recently the politics editor for Gothamist & WNYC, where she directed coverage of the ongoing scandals surrounding New York City Mayor Eric Adams and expanded a statewide coverage network. Before that, she was managing editor at New York Focus and participated in ProPublica's Investigative Editor Training Program. Hibbett served as an associate editor on The Intercept's politics team from March 2021 to October 2022. At The Intercept, she oversaw award-winning reporting on the poultry industry's mass culling practices during bird flu outbreaks, edited investigations on topics from Sen. Joe Manchin's coal investments to the killing of Honduran environmental activist Berta Cáceres, and reported on controversial research that drew scrutiny during the Covid-19 pandemic. Her reporting and editing experience spans the globe, covering political developments in Asia and Latin America. 'For years, I've admired The Intercept's fearless reporting and commitment to holding the powerful accountable — no matter who is in office,' Hibbett said. 'I'm so excited to return to The Intercept and help this team draw attention to the scandals and injustices that would otherwise go unexposed.' Join The Conversation
Fibre2Fashion
21-05-2025
- Business
- Fibre2Fashion
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)
Daily Mail
21-05-2025
- Business
- Daily Mail
JD Sports cautions price rises for US customers thanks to tariffs
JD Sports has warned that prices of some products and services for US customers could rise following recently imposed tariffs. The sporting goods retailer said visibility on the possible impact from tariffs was low, but short-term consumer demand in the US may be affected. President Donald Trump has put a 10 per cent baseline tariff on US goods imports, as well as a 30 per cent tax on products from China, where JD's third-party brands source a significant amount of their stock. JD has expanded considerably in North America over the past few years, acquiring brands like Finish Line, Shoe Palace, and Baltimore-based DTLR. Its takeover of Hibbett in July last year helped the company's turnover in the region soar by £890million to £4.2billion in the 12 months ending 1 February. By comparison, JD said its UK revenues declined by 3.7 per cent to around £2.7billion due to the disposal of non-core businesses and a 'challenging UK retail environment.' The Bury-based firm's total turnover still rose by 12 per cent to £11.4billion as higher European sales offset lower domestic trade and footwear orders jumped by almost £900million to £6.8billion. However, its pre-tax profits shrank by 11.8 per cent to £715million, mainly because of a £53million increase in adjusting items and investment in new stores and distribution centres. JD also revealed its like-for-like sales were 2 per cent lower year-on-year in the first quarter of this financial year amid subdued consumer confidence in North America. Yet organic revenues expanded across all territories, including the UK, where they rose by 2 per cent thanks to beneficial weather. Régis Schultz, chief executive of JD Sports Fashion, said: 'Overall trading in the first quarter of the new financial year has been in line with our expectations in a volatile market. 'Despite this volatility, and uncertainty surrounding the impact of US tariff changes, we look forward into the medium term with confidence that we can continue to outperform the market, improve our profit margin and create significant value for our shareholders.' JD Sports Fashion shares nonetheless slumped 9.9 per cent to 83.8p by late Wednesday afternoon, making them the FTSE 100's biggest faller. Soon after taking over, Schultz unveiled an ambitious strategy for the company to open between 250 and 350 stores each year in key markets. On a net basis, the group launched 223 new JD outlets last year, including ones in Westfield Stratford City, the Bluewater shopping centre in Kent, and on Paris's iconic Champs Élysées. Russ Mould, investment director at AJ Bell, remarked: 'JD has thrived on consumers' willingness to load up on the latest footwear, with many people viewing trainers and sneakers as collectables rather than functional items. 'It has also capitalised on the athleisure boom, selling a wide range of fitness clothing to the mass market. 'There is a risk both of these trends run out of steam or at least go through a temporary moment of weakness as individuals reassess their spending choices.'
Fashion Network
21-05-2025
- Business
- Fashion Network
JD Sports shares fall as it reports lower profits, but it stays upbeat after year of acquisitions
Growth in its newer markets resulted in a 'better business balance geographically with North America generating 37% of revenue, Europe 31%, the UK 28% and Asia Pacific 4%'. Its retail stores grew revenue by 15.7% to £9.081 billion with the online channel declining 2.9% to £2.251 billion, 'reflecting the continued shift back to pre-pandemic online participation, our focus on online profitability and our investment in stores'. As a result, stores now represent 79% of its revenue and online is 20%, with 'other', mainly gym memberships, at 1%. The company stressed that it's channel-agnostic. Footwear continued to perform strongly with revenue growth of 15.2% to £6.819 billion, driven by its acquisitions being mostly footwear-focused, while apparel grew 4.2% to £3.55 billion. Accessories revenue grew by 4.8% to £702 million. This means 'we continue to build a good mix of products delivering a 'head-to-toe' shopping opportunity with footwear at 60%, apparel at 31% and accessories at 6% of revenue'. It ended the period with 4,850 stores worldwide, 1,533 more than at the start of the period, due mainly to the acquisitions of Hibbett and Courir, which added 1,485 stores. Across all fascias, 311 stores were opened and 263 stores were closed, including 66 from Finish Line and Macy's as it continued to rationalise the store portfolio. It also converted 29 stores to JD from Finish Line in the US and a further 21 to JD from other European fascias.
Fashion Network
21-05-2025
- Business
- Fashion Network
JD Sports shares fall as it reports lower profits, but it stays upbeat after year of acquisitions
Growth in its newer markets resulted in a 'better business balance geographically with North America generating 37% of revenue, Europe 31%, the UK 28% and Asia Pacific 4%'. Its retail stores grew revenue by 15.7% to £9.081 billion with the online channel declining 2.9% to £2.251 billion, 'reflecting the continued shift back to pre-pandemic online participation, our focus on online profitability and our investment in stores'. As a result, stores now represent 79% of its revenue and online is 20%, with 'other', mainly gym memberships, at 1%. The company stressed that it's channel-agnostic. Footwear continued to perform strongly with revenue growth of 15.2% to £6.819 billion, driven by its acquisitions being mostly footwear-focused, while apparel grew 4.2% to £3.55 billion. Accessories revenue grew by 4.8% to £702 million. This means 'we continue to build a good mix of products delivering a 'head-to-toe' shopping opportunity with footwear at 60%, apparel at 31% and accessories at 6% of revenue'. It ended the period with 4,850 stores worldwide, 1,533 more than at the start of the period, due mainly to the acquisitions of Hibbett and Courir, which added 1,485 stores. Across all fascias, 311 stores were opened and 263 stores were closed, including 66 from Finish Line and Macy's as it continued to rationalise the store portfolio. It also converted 29 stores to JD from Finish Line in the US and a further 21 to JD from other European fascias.
