Tuesday October 3, 2023

Acquisitions Pay Off for JD Sports in $4.8B First Half

  • JD Sports opened 51 new brick-and-mortar locations in Europe in H1 2022.
  • It has a total of 101 stores in the U.S. and plans to open a flagship location in Chicago.
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October 3, 2023 | Podcast
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JD Sports posted strong results in its latest earnings report after expanding its business through acquisitions over the last year.

The sports, outdoor, and fashion brand retailer generated $4.8 billion in revenue in the first half of FY2022, up from $4.2 billion during the same period last year.

  • JD Sports opened 51 new brick-and-mortar locations in Europe in H1 2022.
  • It has a total of 101 stores in the U.S. and plans to open a flagship location in Chicago.
  • The company faced a dockers’ strike in England, which hampered sales in H1 2022.

JD Sports continues to expand its reach through acquisitions and distribution deals. 

In 2021, it bought clothing retailer Oi Polloi for an undisclosed amount and an 80% stake in Greece-based Cosmos Sports. It also secured a deal to sell Reebok products at its stores.

JD Sports Call to Sell

In 2019, JD Sports acquired rival fashion retailer Footasylum for $124 million. The acquisition was flagged by the Competition and Markets Authority — the U.K.’s antitrust regulator — which cited potential market competition problems.

The CMA ordered JD Sports to sell Footasylum, an order unsuccessfully appealed in June 2020.

Last month, JD Sports completed the disposal of Footasylum to asset management company AURELIUS Group for $40 million.

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