Plus   Neg

JD Sports FY Revenues Up 30% On Strong Consumer Demand

JD Sports Fashion Plc (JD.L) reported a 30% growth in FY revenues, reflecting strong consumer demand for JD's multi-channel proposition.

Profit before tax and exceptional items increased by 24% to £438.8 million from £355.2 million reported a year ago. On a consistent accounting basis, the proforma headline profit before tax and exceptional items to 1 February 2020 under IAS 17 'Leases' would have been £465.6 million.

For the fiscal year ended February 2020, the company reported profit attributable to equity holders of the parent of £246.1 million or 25.29p compared to £261.8 million or 26.90p last year.

Revenue for the year increased to £6.11 billion from the previous year's revenue of £4.72 billion, largely due to strong total like for like sales growth in global Sports Fashion fascias of 12% including highly encouraging growth of more than 10% in the core UK and Republic of Ireland Sports Fashion fascias.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
European Medicines Agency or EMA announced that Comirnaty, the COVID-19 vaccine developed by Pfizer and BioNTech, can have more flexible storage conditions, including up to one month in a normal fridge. The proposed change in the approved storage conditions, recommended by EMA's human medicines committee or CHMP, will help in easy handling of the vaccine in vaccination centres across the EU. Kraft Heinz Foods Co. is recalling around 13,504 pounds of a frozen foodservice soup product citing misbranding and undeclared allergens, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The frozen soup product contains milk and eggs, known allergens, which are not declared on the product label. Walmart has dropped the requirement of masks for customers and members who are fully vaccinated against COVID-19 while they are at the store. This is based on the latest guidance issued by the Centers for Disease Control and Prevention late last week. The retail giant also announced a cash bonus for all fully vaccinated associates.
Follow RTT