UK: JD Sports Plans Major Expansion After Profits Leap
Upmarket sports retailer, John David Sports, is planning a major expansion programme after seeing a profits increase by more than a third.
Pre-tax profits for the group for the year ended March 31 increased to £16.5m, while turnover went up 19 per cent to £204.5m.
During the year, JD Sports opened 15 new stores, bringing the total to 140 and plans to increase this to around 300. It plans to do this by opening 15-20 shops a year, in an attempt to step up competition with its rival, JJB Sports.
The company says it has benefited from the closure of C&A store and the problems Marks & Spencer has had.
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