Sportswear company Decathlon has reported their financial performance for 2024 which reflects growth in international markets while the French markets suffer a low blow.
As the global revenue of the sportswear company rose by 5.2 per cent to nearly US $ 17.5 billion, the company attributed the robust performance in the international space to the significant increase in online sales. The global sales grew substantially, rising to 20 per cent of total revenue from 17.4 per cent recorded in the previous year. Supported by large investments in important regions like India and Germany, this expansion is consistent with the company’s plan to increase its e-commerce footprint and establish itself as a worldwide sports brand.
Despite Decathlon partnering with the Paris 2024 Olympic and Paralympic Games, the company’s revenues did not see a significant surge in France. The home market of France’s revenue remained flat at around US $ 5.13 billion. Sales in physical stores of the home market were significantly affected, although the online sales saw a 5.78 per cent increase, now accounting for 17.5 per cent of the French business.
Decathlon’s net income has declined to around US $ 850 million in 2024, compared to previous 2023’s down from US $ 1,005 million in 2023. The company has attributed the drop to rising operational costs related to its global expansion and strategic investments. Decathlon is addressing this by concentrating on “rigorous cost-control measures” to uphold competitive pricing and foster long-term expansion.
By 2026, the sportswear company aims to have 90 per cent of its product selections reformed with an emphasis on sustainability. It has upgraded 236 locations, including 40 in France, as part of its ongoing retail renovation activities. Decathlon also reported strong employee satisfaction, a boost in sales of second-hand goods, and an increase in sales of ecologically friendly products. The company recently appointed a new CEO.
