JD Sports Achieves Record £5bn Sales Amid Growing Trainer Demand

In Britain, JD Sports has reported a record revenue of £5 billion for the 26 weeks leading up to August, marking a 6.8% increase from the previous year at constant currency rates. The surge in sales is primarily driven by the growing global demand for trainers, which has outperformed other sportswear categories. However, the company faced challenges in the clothing sector, with revenues declining nearly 5% to £1.2 billion due to the shedding of non-strategic brands and increased discounting to manage excess summer stock. Despite these setbacks, JD Sports achieved a pre-tax profit of £405.6 million, slightly up by 3.4% from last year when adjusted for currency fluctuations. The reported profit includes exceptional items related to strategic acquisitions and operational adjustments, but without these, the profit would have dropped significantly. CEO Regis Schultz emphasized the company's ability to outperform competitors in a volatile market, showcasing resilience amid economic challenges. The performance highlights the importance of footwear sales, particularly trainers, as a key growth driver for the brand, while the clothing segment continues to struggle due to adverse weather conditions in the UK and Europe during the spring and summer months.