JD Sports posts £61m profit
Sales of trendy clothes helped JD Sports post £61 million profit last year. As per sources, due to good sales of trendy clothes the company's profit rose 26% compared to last year.
Fashion has become JD's fastest growing area. The company, which owns 523 strong chains, expected to post success by crushing England-inspired fashion.
Company sources credited, stock management, its own brand strength and competitor's failure and weakness for their success.
JD targeted the youth, specially teenagers, and the profit after exceptional item jumped to £3 million from £1.2million.
Last year the company had a series of acquisitions. It acquired Chauspor France followed by purchase of rugby brands of Canterbury New Zealand along with its related assets.
JD's chairman Peter Cowgill said "We want to capitalize on the following and feel good factor." It reported that while same floor space sales grew by 2.5 percent.