“We have today reported record interim results with Group revenue of 5.0 billion British pounds, and Profit before tax and adjusting items of 405.6 million British pounds, underscoring our ability to outperform the sector in a volatile global marketplace. Our success is a direct reflection of the strength and agility of our global, multi-brand strategy, which allows us to adapt swiftly to fast-changing industry trends across the world and our operational excellence. This ensures we continue to deliver an industry-leading customer proposition both in store and online”, commented Régis Schultz, Chief Executive Officer of JD Sports Fashion.

First Half Results

In the first half of the current year, the company reported an organic sales growth of 6.4% and like-for-like sales growth of 0.7%, as compared to the same period last fiscal year. The group’s first half revenue reached 5.03 billion British pounds (5.99 billion euros), reflecting an increase of 5.2%, or 6.8% on a constant currency basis, over the same period last year, and including 61 million British pounds from 10 days of Hibbett trading.

As of the 3^rd of August, the group operated 4,506 stores, an increase of 1,189 since the beginning of the year, reflecting store openings, the ongoing disposal of non-core stores and the acquisition of Hibbett. Overall, the company highlighted good progress across its three core segments - JD, Complementary Concepts and Sporting Goods & Outdoor.

On a comparable basis to the first half of 2024, JD Sports reported a gross margin decline of 10 basis points to 48.2% (or 48.3% excluding Hibbet) in the year’s first half, driven by a lower margin in the second quarter due to increased promotional activity in apparel and online. Operating margin was in line with the prior period at 8.8%.

According to the sportswear group, this performance reflects its “operating discipline in a highly promotional environment, together with strong cost control and good inventory management”.

In the first half of fiscal 2025, JD Sports reported a profit before tax and adjusting items of 405.6 million British pounds (482.9 million euros), up by 2.0%, up 3.4% on a constant currency basis, and flat excluding Hibbett. The profit before tax, instead, decreased to 126.3 million (150.4 million) from 353.7 million British pounds (421.1 million euros) in the same period last year, mainly due to non-cash adjusting items, such as the updated valuation of options related to the acquisition of Hibbett and the closure of a distribution centre.

Full Year Outlook

The UK-based group has reiterated its full year outlook, with profit before tax and adjusted items expected to be in the range of 955 million (1.14 billion) to 1,035 million British pounds (1.23 billion euros). However, this now includes a 25 million contribution from Hibbett, which was previously excluded, implying a slight downward revision to the guidance, mainly due to the impact of exchange rates.