JD Sports has Lapped its Rivals

The Week: A rare story of high street success, JD Sports spotted the athleisure trend and ran with it

Rodney Hobson 13 September, 2019 | 9:53AM

jd sports

Twice as many shops are closing compared with opening but don’t bother telling JD Sports (JD.). Its UK stores are managing like-for-like growth of 10%. JD spotted where the trendy money was going – the “athleisure” market where you lounge around pretending to be healthily fit – and went for it. It is really heartening to see a success story on the High Street.

JD reported a 6.6% rise in pre-tax profits in the six months to 3 August, with sales a remarkable 47% higher, though this was in part due to acquisitions and store openings. The second half has started well and, but for a change in accounting procedures, full year profits would be coming in at the top end of expectations rather than in the middle as is now likely. It was therefore a little disappointing to see a niggardly rise in the interim dividend from 0.27p to 0.28p.

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About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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