Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
JD Sports has announced the closure of the last remaining stores of its fashion brand, ‘Hip’, bringing an end to its presence on the high street, leaving the brand to operate solely online.
The move is part of a wider rationalisation for the retailer, which reported the closure of 24 stores earlier this year. According to its results report published in May, the brand is focusing on a “fewer, bigger, better” store approach across the UK, to generate higher sales and better returns across fewer locations.
The remaining storefront in Manchester has officially closed its doors, while its storefront in Leeds is set to follow suit before the end of the month.
The report highlighted a fall in organic sales growth of 2.1% and a 3.9% decrease in like-for-like sales, reflecting lower customer traffic, weaker consumer demand and higher operating costs. While the UK remains its biggest challenge, Europe and North America are seeing an increase in sales and a strong online presence.
Regis Schultz, chief executive of JD Sports, said: “We delivered a resilient performance, achieving organic sales growth of 2.1% despite tough market conditions.”
He added: “In North America, our largest region at nearly 40% of sales, sales trends sequentially improved through the year […] We are now building on that progress with increased targeted marketing investment to support the JD brand’s expansion and build on our momentum in this key region.”
The Hip brand and retail chain was founded in Leeds in 1987 as an independent retailer before being acquired by JD Sports in 2014. It is now known for its high-end streetwear and heritage menswear.
The removal of Hip from the high street follows the optimisation of its UK store estate, as it continues to branch out internationally.
