Companies

JD Sports announces new growth strategy for the next 5 years

Feb 3, 2023 United Kingdom

The retailer has announced that is setting in motion a new strategic approach for the next five years, which includes plans to a "significant" retail expansion and brand-new financial growth goals

"Today marks a new, distinct chapter in the growth story of JD as we set our plans to become the leading global sports-fashion powerhouse. Building on our strong existing position and attractive long-term market dynamics, we see significant growth opportunities ahead by expanding JD internationally, notably in North America and Europe", commented Régis Schultz, CEO of JD Sports, at the Capital Markets Event held on 2nd of February.

The UK-based group disclosed that it intends to hit double-digit revenue growth and operating margin in the coming five years, as well as double-digit market share in key regions. Additionally, JD Sports is aiming for a capital expenditure of 500 million to 600 million pounds per annum, with 50% to 60% of spending focused on store expansion in underpenetrated markets; so, 250 to 350 new JD stores are expected to open each year in this period.

"Our track record of disciplined investment and strong retail execution means that JD is extremely well positioned to capitalise on its material headroom for growth globally and continue delivering value for shareholders", concluded Régis Schultz.

Image Credits: retailgazette.co.uk

United Kingdom Companies Footwear JD Sports Management Retail