Sales up 2.4% At JD Sports For Q2 2024

Following a slight decline in sales (0.7%) earlier in the year for its first quarter, JD Sports has now reported a 2.4% increase in sales for Q2 2024.

After completing its recent $1 billion acquisition of the US based sportswear store, Hibbett, last month JD Sports has now reported a 2.4% increase in like-for-like sales for its second quarter. After a slight decline in sales earlier in the year, the Bury based “athleisure” empire has reported strong growth mainly in North America and Europe. The outlook still remains cautious as the like-for-like sales in the UK saw a slight dip by 0.8% which was a big improvement on the 6.4% decline earlier in the year. Consumer purse’s still remain squeezed with economic uncertainty, however JD Sports is still on track to deliver an annual profit of around £100 million according to their CEO Régis Schultz.

The takeover of Hibbett and further expansion into the USA has strengthened JD’s overall presence in the USA with a total of 1179 stores & growing brand relationships. So far this year JD Sports has opened a total of 85 new stores in the USA alone as part of Schultz’s five year growth plan to become the biggest sportswear store in the world. Schultz also expects almost half of its turnover to come from the USA over the next few years with further growth into South America also a possibility.

 

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