JD Sports under pressure, but senses opportunities

JD Sports is facing significant market pressure, according to its recent annual results. Although revenue rose sharply, some profit metrics fell by double digits. However, the British retailer sees opportunities in the running category and is performing well in apparel.

First quarter disappoints

In the year ending in January, total sales rose by 10.5% to £12.66 billion (about €14.8 billion). Organic revenue growth, excluding recent acquisitions, came in at 2.1%. Profit before tax and after adjustments, however, fell by 7.7% to £923 million (€1.07 billion).