JD Sports reports record profit levels

JD Sports has seen a record increase in its profit before tax, which was at 26% in the 53 weeks to 3 February 2018.

This amounted to £244.8m, falling short of the company’s projected target of £300m.

Profit before tax was up 24% to £294.5m, whereas operating profit before exceptional items was up 25% compared with 2017 to £308.8m.

Like-for-like sales saw an increase of 3% and online sales grew by 30%.

Peter Cowgill, JD Sports executive chairman, said: “This is an excellent result demonstrating our capacity for continuing growth in both existing and new markets, and the strength of our offer in store and online.

“This sustained growth could not have been achieved without a relentless and ongoing focus on a number of key principles which ensure we remain the undisputed consumer destination of choice for sport lifestyle footwear and apparel.”