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JD Sports has announced it is planning to open 250 to 350 new stores per year in underpenetrated markets under a new growth strategy for the group.
The group said it has a capex of £500m to £600m per annum with 50% to 60% of spend focused on the store expansion plan.
It comes as CEO Régis Schultz and his management team gave an update on the strategic approach for the group over the next five years.
Amongst the planned openings, key objectives for the next five years include doubling digit revenue growth as well as doubling its digit market share in key regions. The group also plans to hit a double digit operating margin, with a cash generation from operating activities of £1bn per annum.
Régis Schultz, CEO of JD, said: “Today marks a new, distinct chapter in the growth story of JD as we set our plans to become the leading global sports-fashion powerhouse. Building on our strong existing position and attractive long-term market dynamics, we see significant growth opportunities ahead by expanding JD internationally, notably in North America and Europe.
“We will also be enhancing our omnichannel retail offering, investing in technology and analytics, and leveraging our long-term strategic brand partnerships, to better serve more customers.”
He added: “Our track record of disciplined investment and strong retail execution means that JD is extremely well positioned to capitalise on its material headroom for growth globally and continue delivering value for shareholders.”
