JD Sports Fashion PLC (Group, JD) posted total sales of £12.7 billion for the fiscal year ended January 31, an 11.7 percent year-over-year (y/y)  increase at constant FX rates and 10.5 percent y/y growth at reported rates. Excluding the acquisitions of Hibbett in North America and Courir in Europe in the prior year, organic sales growth was up 2.1 percent at constant FX rates, which includes a 4.2 percent benefit to sales from net new space opened across the business. Group LFL (comp store) sales were down 2.1 percent y/y for the year.

“We believe this is at least in line with the growth of our addressable markets,” suggested Group CEO Régis Schultz . 

Regional Summary
Total sales below (in £ million) include a full year of results from Hibbett and Courir (JD Group completed the acquisition of Hibbett on July 25, 2024, and Courir on November 27, 2024). Organic sales growth excludes acquisitions and disposals, and is calculated at constant FX rates.

North America, the company’s largest region at 38 percent of Group sales (FY25: 37 percent), reportedly delivered an improving performance through the year, said to be “supported by disciplined execution against its trading plans and strong online sales growth.”

While footwear was said to be “mixed overall due to softness in several end‑of‑cycle product lines,” this was reportedly partially offset by strong momentum in running as well as several successful retro basketball product launches.

Furthermore, organic apparel sales increased by ~22 percent y/y, said to be the best performance across all Group regions.

Online sales grew strongly throughout the year, with organic sales increasing 12.2 percent, reflecting “improved online ranging and technology platforms, targeted marketing and controlled price investments.” The company said the phased conversion of Finish Line stores to JD continued, with promotional intensity at this fascia (banner) remaining elevated through the year.

Overall, North America delivered organic sales growth of 3.2 percent y/y and a comp store sales decline of 1.8 percent. Excluding the standalone Finish Line business, North America comp store sales were up 1.2 percent year-over-year.

Europe, representing 33 percent of Group sales (FY25: 31 percent), reportedly delivered a “resilient performance” with organic sales growth of 4.2 percent and a comp store sales decline of 1.2 percent. The region reportedly saw “continued good performances” across the sporting goods businesses (ISRG and Cosmos), and a “resilient performance” across JD.

Organic apparel sales in the region continued to grow, up by ~10 percent y/y.

Organic online sales saw “good growth” of 3.8 percent, reportedly helped by expanded ship‑from‑store capabilities and controlled price investments in the online offer.

The United Kingdom, at 25 percent of Group sales (FY25: 28 percent), reportedly saw weak sales trends at both JD and the Group’s Outdoor business against a tough consumer backdrop, particularly in the online channel (where a higher proportion of UK sales are derived relative to other regions).

Store sales were said to be supported by strong conversion despite lower footfall. Organic sales – described as the most relevant measure in this market given the ongoing Group’s transition to ‘fewer, bigger, better’ JD stores – were down 2.5 percent year-over-year. This was said to be largely driven by softness in footwear linked to end‑of‑cycle product lines and tough comparatives in athletic footwear for women.

Apparel, particularly womenswear and outerwear, reportedly delivered a more resilient underlying performance (notwithstanding tough comparatives due to the Euro 2024 football tournament). JD Gyms was said to have continued its strong momentum, surpassing 100 sites and attracting record peak sign‑ups despite a more competitive market.

Asia Pacific, representing 4 percent of Group sales in fiscal 2026 (FY25: 4 percent), reportedly delivered growth across the year, with broad‑based strength in footwear, apparel and online, with online said to be supported by the successful roll-out of a new e-commerce platform in South-East Asia. The company said the AP region exited the year with positive comp store sales momentum. Overall, Asia Pacific delivered organic sales growth of 8.5 percent y/y and 0.4 percent comp store sales growth.

Segment Summary

Category Summary
The Group outlined its sales mix as follows:

Footwear: Sales as a proportion of overall Group sales held steady at 60 percent, due to the category mix impact of Hibbett and Courir (both acquired in the prior year) being more footwear-centric than other JD Group banners. Organic sales were said to be flat y/y.

Apparel: Sales as a proportion of overall Group sales reduced slightly to 30 percent due to the category mix impact. The company said it saw good underlying apparel sales growth in fiscal 2026, driven by North America and Europe, supported by a strong product offering which continues to diversify as each banner reacts to ever-changing consumer fashion trends. Own brands represent ~15% of total apparel sales. Organic sales were reported at ~5 percent growth y/y.

Accessories: Sales represented 7 percent of sales in fiscal 2026, up from 6 percent in the prior year. Organic sales were said to be up ~11 percent y/y, said to be primarily driven by strong growth in the Group’s Sporting Goods businesses.

Other: Outdoor living equipment and JD Gyms memberships were 3 percent of the business in fiscal 2026, flat to the prior year. Organic sales were down ~1 percent year/y.

Profitability and Cash Flows
Group gross margin was said to be flat y/y at 47.0 percent of sales.

“Throughout the year, the Group made controlled price investments, particularly in the online offer, to boost competitivity and stay close to fast-changing consumer dynamics,”Schultz noted. The underlying impact of those investments on the Group gross margin (approximately -30 basis points, net) was said to be offset by higher marketing contributions year-over-year.

Operating profit before adjusting items and after interest on lease liabilities of £886 million (FY25: £937m) was down 4.0 percent y/y at constant FX rates and down 5.4 percent y/y on a reported currency basis, reportedly driven by higher operating costs and interest on lease liabilities. While operating costs were up 14.6 percent y/y at constant FX rates, this was said to be driven by the impact of costs related to organic new stores and the annualization of costs related to Hibbett and Courir. Excluding these items, operating costs were up 0.4 percent y/y.

Profit before tax and adjusting items was £852 million for the year, compared to £923 million in the prior year. This reflected a decline of 6.4 percent at constant FX rates and a 7.7 percent decline at reported rates.

The Group generated operating cash flow (net of lease repayments) of £1.31 billion in fiscal 2026,  up 3.3 percent y/y. After cash outflows mainly consisting of changes in working capital, capital expenditure and tax payments, JD generated free cash flow of £462 million for the year, compared to £339 million in fiscal 2025, supported by cost and capital discipline.

The Group had net cash (before lease liabilities) on balance sheet of £311 million at year-end, compared to £52 million at the end of the prior fiscal year, and net leverage including lease liabilities of 1.4x (FY25: 1.7x).

Stores
JD Sports Fashion PLC ended fiscal 2026 with 4,811 stores worldwide in 36 countries, compared with 4,850 at the start of the financial year. Across all banners, 289 stores were opened and 325 stores were closed (openings and closures include 58 store relocations). Three stores were disposed of within the Outdoor business as the Group continued to optimize its store portfolio.

In addition to the store numbers in the table below, the Group operates 102 JD Gyms sites in the UK (FY25: 92), and 75 franchised stores for the JD brand and Courir (FY25: 58).

Overall, JD Group said it is present via its own operations in 36 countries, with a franchise presence in a further 15 countries.

Image courtesy JD Sports Fashion plc