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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  JD Sports Fashion PLC    JD.   GB00BYX91H57

JD SPORTS FASHION PLC (JD.)
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JD Sports looks beyond Britain after profit climbs

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04/17/2018 | 12:05pm CEST
FILE PHOTO: A sign for a JD Sports store is displayed in a window in London

(Reuters) - Britain's JD Sports Fashion (>> JD Sports Fashion PLC) plans to look overseas for further growth after bucking a gloomy UK retail sector by boosting annual profit by a quarter.

(Reuters) - Britain's JD Sports Fashion plans to look overseas for further growth after bucking a gloomy UK retail sector by boosting annual profit by a quarter.

"Because of the saturation in the UK (sportswear) market, the main focus would be overseas development", Executive Chairman Peter Cowgill said in an interview on Tuesday.

He was speaking after the company posted a 25.5 percent rise in annual profit before tax and exceptional items as demand for tracksuits and trainers remained strong.

Shares in the company rose as much as 7.9 percent as the markets cheered a rare bright spot among troubled British clothing retailers.

Analysts at brokerage Peel Hunt lauded JD Sport's performance as a 'stand-out effort' at a tough time for the industry and the consumer as competition grows online and Britons face pressure on their spending power.

"These are revolutionary times in the industry and its hard to find a sports retailer playing its cards as well as JD" Peel Hunt added in the note. The brokerage has a "buy" rating on the stock.

JD Sports has overtaken billionaire Mike Ashley's Sports Direct as Britain's leading sportswear retailer by market value.

It has already begun to spread its wings beyond its home British market.

It has agreed a $558 million deal for NASDAQ-listed Finish Line to tap into the lucrative U.S. sportswear market and is expanding into South Korean market via a joint venture.

JD Sport's deal for Finish Line, the exclusive retailer of athletic shoes for Macy's, will increase the British company's importance to international brands, particularly Nike and Adidas.

In Britain, it sell brands such as Superdry, Nike, The North Face and Adidas at its JD stores. The company also offers a number of exclusive items from Nike and Adidas under the "Only At JD" range.

With steady demand at its home UK market fuelling its overseas expansion, JD Sports has also tapped into markets in France, Spain, Finland and Malaysia in the recent years.

($1 = 0.6968 pounds)

(Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri/Keith Weir)

By Rahul B

Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS 0.72% 210.9 Delayed Quote.26.17%
FINISH LINE INC 0.22% 13.51 Delayed Quote.-7.02%
JD SPORTS FASHION PLC -4.94% 452 Delayed Quote.34.44%
MACY'S 1.45% 35.69 Delayed Quote.41.68%
NIKE 0.21% 85.55 Delayed Quote.36.77%
SPORTS DIRECT INTERNATIONAL 0.67% 345 Delayed Quote.-8.49%
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Latest news on JD SPORTS FASHION PLC
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Financials (GBP)
Sales 2019 4 545 M
EBIT 2019 349 M
Net income 2019 266 M
Finance 2019 53,8 M
Yield 2019 0,38%
P/E ratio 2019 16,57
P/E ratio 2020 14,59
EV / Sales 2019 0,96x
EV / Sales 2020 0,75x
Capitalization 4 399 M
Chart JD SPORTS FASHION PLC
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 5,31  GBP
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
Peter Alan Cowgill Executive Chairman
Brian Michael Small Chief Financial Officer & Executive Director
Andrew Marvin Leslie Independent Non-Executive Director
Martin William Oliver Davies Senior Independent Non-Executive Director
Heather Jackson Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
JD SPORTS FASHION PLC34.44%5 748
INDITEX - INDUSTRIA DE DISEÑO TEXTIL-6.18%99 769
KERING15.70%67 453
FAST RETAILING CO LTD24.62%53 502
ROSS STORES21.48%36 399
TIFFANY & CO.21.81%15 500