Bury based JD Sports Fashion reported a 2.4% rise in second-quarter underlying sales, an improvement on the previous quarter, but said it was cautious on its outlook for the rest of the year as the global macro environment remains volatile
During the period, JD Sports also completed the acquisition of US sportswear brand Hibbett, which adds “material scale and presence in the US through its 1,179 stores, strengthening further our brand relationships in the world’s largest sportswear market.”
In the first half of the year, JD Sports opened 85 new stores which, along with the Hibbett acquisition and its ongoing disposal of non-core stores, saw the retailer end the period with 4,506 stores across the world – 1,189 more than the start of 2024.
CEO of JD Sports Régis Schultz said: “I am pleased to report like-for-like sales growth of 2.4% and organic sales growth of 8.3% in the second quarter, demonstrating the strength and agility of our multi-brand model. In particular, we saw double-digit organic sales growth in North America and Europe, supported by the continued success of our JD store rollout programme.
“We completed the acquisition of Hibbett, Inc. just before the period end and we look forward to its contribution to the growth and development of our US business in the coming years. Based on our first-half trading, we remain on track to deliver profit within our full-year guidance.”
