JD Sports Fashion Gives Update On Medium-term Plans

(RTTNews) - JD Sports Fashion Plc, (JD.L) a retailer of sports, fashion and outdoor brands, Wednesday announced an update on its medium-term plans.

Régis Schultz, CEO of JD Sports Fashion Plc, said: "JD operates within an attractive, long-term growth market and we are well positioned to continue growing market share. We have strong brand partner relationships and an agile, multi-brand model which allows us to drive, and respond quickly to, market trends. We are highly cash generative and disciplined in terms of our capital allocation opportunities."

"We have made significant strategic progress over the last two years: we have accelerated the growth of the JD brand, particularly in North America and Europe; we have continued building a global sports fashion powerhouse through the acquisitions of Hibbett and Courir, taking full ownership of ISRG in Iberia and MIG in Eastern Europe, and disposing of around 30 non-core businesses; we have upgraded our global supply chain; and we have built the required infrastructure and governance for a group of our scale."

The company said it has opened 400 new JD stores globally, since launching its current five-year strategic plan in February 2023. It has also developed and launched capital-light franchise model.

The company said it improved its reach with the acquisitions of Hibbett and Courir for £1.4 billion. It also took full ownership of ISRG in Iberia and MIG in Eastern Europe, and disposed of 30 non-core businesses.