JD Sports reports record sales as demand for trainers continues to grow

The group reported total revenues of £5bn in the 26 weeks to August, which it said was a record amount

JD Sports has delivered a strong performance, outshining other sportswear brands with an uptick in sales this year.

The group is reaping benefits globally from the demand for trainers, recording revenues of £5bn for the 26 weeks leading up to August, which marks an all-time high and represents a 6.8% increase from last year at constant currency rates. Like-for-like sales, discounting the effect of brand-new store additions this year, witnessed a rise of 0.7%.

Footwear, particularly trainers, remains a key driver of growth, whereas clothing and apparel faced setbacks due to less favourable weather conditions in the UK and Europe during spring and summer. In Britain, revenue dropped almost 5% to £1.2bn, attributed to shedding "non-strategic" brands and increased discounting to clear excess summer merchandise.

JD reported a pre-tax profit and adjusted items of £405.6m in the first half, marginally higher (3.4%) than last year when measured in constant currency. Adjustment items considered exceptional by JD, such as expenditure on the acquisition of American competitor Hibbett and the closure of a Derby warehouse, were factored in.

Without these one-off costs, its pre-tax profit fell close to two-thirds to £126.3m. JD's chief executive, Regis Schultz, stated that the half-year results demonstrate "our ability to outperform the sector in a volatile global marketplace".