industry

JD Sports applauds its high street ‘theatres’


Executive chairman Peter Cowgill said the “theatre” of bricks-and-mortar retailing would continue to appeal to the young despite the rise of online rivals.

He said: “The often-social nature of consumers’ shopping trips and impulsive nature of their buying decisions combined with the importance of cash to a high proportion of our demographic means that we expect physical retail to retain most of its current level of importance.

“The store base remains essential to brand awareness [and] the customer’s desire to see, handle and try the product, and our ability to provide multiple delivery points. 

“We create a great store environment with great theatre and we are fortunate to have the best brands in the overall ‘athleisure’ market. We are very analytical, looking at trends all the time. Most of all, we make sure we stay relevant. 

“It is a culture that is here to stay and there is more availability for wearing ‘athleisure’ gear in pubs and clubs.” 

Half-year pre-tax profits rose 19 per cent to £121.9million on 35 per cent higher revenue of £1.84billion. 

Its outdoor businesses such as Blacks and Millets suffered as demand for jackets and other waterproof fear wilted during the heatwave but Cowgill said growth in sales of camping and other outdoor gear bodes well for the longer term. 

It opened 44 new stores during the period, 39 of which were overseas and it expects to open at least 18 across Europe in the second half. 

Cowgill said: “We should celebrate a UK company going overseas and achieving success. We are now taking on the US. It’s a remarkable story.” 

Shares jumped 31¾p to a record high 519¼p, valuing the company at about £5billion.



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