UK-based JD Sports sees its half-yearly profits fall by 18 per cent to £ 298.3 million.
The revenue touched £ 4.4 billion during the said period. Now that’s 13.7 per cent up from £ 3.8 billion recorded a year before.
The pre-tax profits for the retailer in the UK and and Ireland fell from £ 174.2 million to £ 153 million.
Revenue-wise, the UK and Republic of Ireland saw £ 1.75 billion revenue getting generated during the 6-month period, while the same was £ 1.3 billion from North America. The retailer recorded revenue of £ 1.15 billion from Europe.
More on the same, Régis Schultz, CEO, JD Sports, said “As expected and guided, the profit before tax and exceptional items of £ 383.5 million is lower than the record set in the previous year of £ 439.5 million.
This is majorly owing to reduction in profit before tax and exceptional items of £ 115.1 million across our combined businesses in North America, which benefited significantly in the previous year from the temporary fiscal stimulus which the federal government made available to the lower-earning demographic.
Founded in 1981, JD Sports has stores across the UK, Europe, the US, Asia, New Zealand and Australia. It generated £ 6,110.8 million in 2020.
