COMPANUY FOCUSCOMPANY:JD SportsFOUNED:Bury, Greater Manchester 1981STOCK DATA:JD SPORTS FASHION PLC ORD 0.05PJD.L0.91%$119.65AVAILABLE FROM:jdsports.co.uk For their first half ending 3rd August 2024, JD Sports posted record sales of £5 billion in what the Greater Manchester retailer described as a “challenging & volatile market”. It’s certainly not all doom and gloom in the sneaker business world at the moment, and that’s 100% the case with JD Sports who yesterday posted record revenues of £5 billion. That’s a hell of a lot of sneakers & tracksuits but that’s what they do best and with their latest expansion into the USA with their recent acquisition of Hibbett, it looks likes JD’s global dominance is set to grow even more. Described by the Bury based sportswear retailer as a “challenging and volatile market”, sales were up 5.2% to £5 billion with pre-tax profits of £405 million. JD Sports said its overall guidance range of £955 million to £1.035 billion remained unchanged and was “in line with expectations”. The acquisition of Hibbett is also expected to contribute a further £25 million to its full year profit with its expansion plan and the opening of 700 new stores across the USA over the next 4 years. Shares in JD Sports (JD) did take a hit on the news yesterday as the group flagged a potential £20 million currency hit for the remainder of the year with investors also reacting to the news of Nike posting mixed results for Q1 and the Swoosh label postponing their Investor Day. Nike is of course one of JD’s biggest brands. Our success is a direct reflection of the strength and agility of our global, multi-brand strategy, which allows us to adapt swiftly to fast-changing industry trends across the world, and our operational excellence. Our strong business model and clear strategy position us to deliver long-term growth and value creation for our shareholders. Régis Schultz, CEO JD SportsSee alsoNews·October 26, 2024Take A Closer Look At The Nike Air Max 95 ‘Black Volt’ Trainer Keep posted at Sneaker Jobs for further info surrounding the growth of the sportswear powerhouse. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.