JD Sports has posted a 5.5% rise in its full year profits as its recently acquired outdoor leisure businesses, Blacks and Millets, broke even.
By utilising markdowns and stock clearance throughout Blacks and Millets stores, JD Sports were able to reach break even point during the second half of the year, having taken a £4.9m loss in the previous year.
Peter Cowgill, Executive Chairman, has stated:
‘I am delighted to report that our core Sports fascias (JD and Size?) delivered another year of substantial progress. It is particularly pleasing that they have produced a record result in our core markets in the UK and Ireland.’ (BDaily, 15th April 2014)
For more on how JD Sports appeals to its customers, check out their case study, Balancing the product portfolio to satisfy customer demand.