JD Sports Fashion reported a 14.5% increase in group pre-tax profits before exceptional items to £14.2 million ($22.2) in the 26 weeks to August 1. Total group sales for the U.K. sports fashion retailer jumped 8.4% to £324 million ($443.4 mm), while comp store sales edged up 0.7%.
The comp store sales growth was made up of a 0.3% rise at the Sports Fascias business, comprising JD, Size? and Chausport, and a 3.1% increase at its Fashion Fascias comprising Bank and Scotts. Group comps in the six weeks to Sept. 12 grew 0.8%. This was made up of a 1.3% rise at the Sports Fascias and a 2.4% decline in its Fashion Fascias business.
Group operating profits (before exceptional items) increased by 10.1% to £14.4 million ($19.7 mm) from £13.0 million ($19.9). Profit for the period after taxation was £6.9 million ($9.4 mm).
At the retailer’s Sports Retail business, operating profit before exceptional items in the half increased from £16.2 million ($24.9 mm) to £17.2 million ($23.5 mm). At its Fashion Retail business operating losses before exceptional items reduced from £3.3 million ($5.1 mm) to £2.7 million ($3.7 mm) in the period. Group gross margin was maintained at 48.2%.
JD Sports opened five new Sports stores and five new fashion stores during the period.
