Record Profits and Strong Online Performance
- JD Sports reports record profit levels
- Profit before tax increased by 26% to £244.8m
- Operating profit before exceptional items up 25% to £308.8m
- Like-for-like sales increased by 3%
- Online sales grew by 30%
- Peter Cowgill, JD Sports executive chairman, credits growth to focus on key principles and strong offer in store and online
JD Sports has reported a record increase in profit before tax of 26% for the 53 weeks ending February 3, 2018, reaching £244.8 million. This figure fell short of the company’s projected target of £300 million. Profit before tax increased by 24% to £294.5 million, while operating profit before exceptional items rose by 25% compared to 2017, reaching £308.8 million. Like-for-like sales saw a 3% increase and online sales grew by an impressive 30%. JD Sports Executive Chairman Peter Cowgill attributes this sustained growth to the company’s ongoing focus on key principles and its strong offerings both in-store and online, making it the go-to destination for sport lifestyle footwear and apparel.
Factuality Level: 10
Factuality Justification: The article provides accurate information about JD Sports’ financial performance, including specific numbers and percentages, and quotes from an executive chairman that support the claims made.
Noise Level: 3
Noise Justification: The article provides relevant information about JD Sports’ financial performance and growth, but it lacks in-depth analysis or exploration of long-term trends or consequences of the company’s decisions. It also does not offer actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: JD Sports’ stock price and related retail stocks
Financial Rating Justification: The article discusses the financial performance of JD Sports, a publicly traded company, and mentions specific financial figures such as profit before tax, operating profit, and like-for-like sales. This information is relevant to investors and can impact the company’s stock price and related retail stocks in the market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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