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JD Sports

JD Sports reports record profit levels

On this episode of Talking Shop I’m joined by Alain Bejjani—former Group CEO of Middle East retail giant Majid Al Futtaim, and author of the definitive new book, NEXT: Leading Through the New Realities. Drawing on his childhood in war-torn Beirut, and his experience steering a $9.5bn dollar retail and lifestyle empire through a global pandemic, Alain brings an unmatched perspective on leadership under pressure. Today, we break down his crisis survival playbook for retailers operating in distress. We discuss why resilience must always outpace efficiency, the four assets a brand must protect at all costs, and how to turn macro-turmoil into a long-term direction that scales.

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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.”

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