JD Sports Fashion has reported a 5.2% increase in revenue for the first half (H1) of fiscal 2025 (FY 2025), reaching £5.03bn ($6.68bn), up from £4.78bn in H1 FY 2024.
Despite the revenue growth, the company experienced a significant decline in profitability, with operating profit falling by 22.0% to £292.2m, a decrease from £374.8m in H1 FY 2024.
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The company’s profit before tax stood at £126.3m, a sharp drop from £353.7m in the previous year.
Basic earnings per share of JD Sports Fashion also saw a dramatic fall from 4.23p to 0.42p in H1 FY 2025.
The company’s gross margin was slightly down by 20 basis points at 48.2%, impacted by increased promotional activity.
JD Sports Fashion’s core segment, JD, represented 71% of the group’s revenue, with a 7.1% revenue growth and a gross margin of 49.5% over the period.
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By GlobalDataThe company’s complementary concepts saw a revenue increase of 12.3% and a profit before tax and adjusting items rise of 15.7% while sporting goods and outdoor experienced a revenue decrease of 4.5% but an increase in profit before tax of 16.2%.
Geographically, Europe and North America reported organic sales growth of 10.1% and 10.7%, respectively in the first half of the fiscal.
The UK market showed sequential improvement, although it was affected by non-core divestments and a higher focus on online and apparel sales.
The company expanded its store count to 4,506, an increase of 1,189 stores, which includes new openings, disposals, and the acquisition of Hibbett.
In July, JD Sports Fashion completed the acquisition of US-based athletic-inspired fashion retailer Hibbett for $87.50 per share in cash.
JD Sports Fashion CEO Régis Schultz said: “Our acquisition of Hibbett, which was completed just before the period end, is a key milestone in our international development and advances the global nature of the group through our strengthened position in the US. I remain confident in the delivery of our exciting growth plans for North America and that the group is well-positioned to continue growing its share in the world’s largest sportswear market.
“I am very proud of our teams across the globe, whose dedication and hard work have been instrumental in achieving these results. Our strong business model and clear strategy position us to deliver long-term growth and value creation for our shareholders.”
