Despite a tough market, JD Sports’ revenues grew by 2.7 per cent to £10.4 billion during the year. This growth was fueled by the opening of over 200 new stores, which exceeded sales expectations by 20 per cent. The company plans to open another 200 stores this year.

However, the company’s profits dipped by 8 per cent to £912.4 million during the year. This was attributed to lower revenue in the second half and investments for future growth. Impacted by brand disposals, the company’s revenues in the UK market declined by 8.3 per cent to £3.51 billion during the year. Its footwear sales thrived with an increase of 8.2 per cent, offsetting a decline in apparel sales due to mild weather impacting winter clothing sales.

Highlighting the strong revenue performance in a challenging market, Régis Schultz, CEO, says, the company is confident of meeting its targets for the full financial year. The first quarter of the company is already on track with expectations, he adds.