Record Revenues and New Stores Across the Globe
- JD Sports expects profits to top £1bn
- Profits for the year ended 28 January 2023 were £991m
- EBITDA before adjusted items increased to £1.70bn from £1.61bn in 2022
- Revenues rose to £10.1bn from £8.6bn in 2022 due to international development
- 138 stores trading as JD in North America
- 58 new net stores opened across Europe, including first stores in Hungary, Lithuania and Greece
- Seven stores opened in Indonesia and six in Israel under joint venture arrangements
- Chair Andrew Higginson acknowledges global macro-economic and geopolitical challenges
JD Sports has announced that its profits for the year ended 28 January 2023 reached £991m, with expectations of £1.03bn in profits for the next full year. The company’s EBITDA before adjusted items increased to £1.70bn from £1.61bn in 2022. Revenues rose to £10.1bn from £8.6bn in 2022, driven by international development. JD Sports now has 138 stores trading as JD in North America and plans to open 58 new net stores across Europe, including first stores in Hungary, Lithuania, and Greece. Additionally, seven stores were opened in Indonesia and six in Israel under joint venture arrangements. Despite acknowledging global macro-economic and geopolitical challenges, Chair Andrew Higginson remains optimistic about the company’s growth potential.
Factuality Level: 8
Factuality Justification: The article provides accurate information about JD Sports’ financial performance and expansion plans, as well as quotes from the company’s chair. It is based on official statements and does not contain any irrelevant or misleading information, sensationalism, redundancy, personal opinions presented as facts, invalid arguments, logical errors, inconsistencies, fallacies, or false assumptions.
Noise Level: 2
Noise Justification: The article provides relevant information about JD Sports’ financial performance and expansion plans, including profits, revenue growth, and new store openings. It also includes a statement from the company chair addressing current challenges and expectations for future profitability. The content is focused on the topic and supported by specific numbers and figures.
Financial Relevance: Yes
Financial Markets Impacted: JD Sports’ stock and related retail industry stocks
Financial Rating Justification: The article discusses JD Sports’ financial performance, including profits, revenues, and store expansion plans, which can impact the company’s stock price and the retail industry as a whole.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
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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