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Highlights

  • JD Sports Fashion PLC (LSE: JD.) is a popular retailer of sports fashion and outdoor brands.
  • In FY23, the company posted improvement in its top-line business with approximately 18.2% YoY growth in revenue.
  • JD Sports is anticipating 35% of its full-year (FY24) profits to be secured in the first half of the year.

FTSE 100 index listed JD Sports Fashion PLC (LSE: JD.) is a multichannel retailer of sports fashion and outdoor brands. JD Sports started its journey with a single store in the North West of England in 1981. Over the years, it has grown its store count to 3,403 stores spanning across 38 territories in the UK, Europe, North America and Asia Pacific. The firm aims to emerge as one of the top-notch global sports fashion powerhouses in the world.

In the fiscal year 2023, the company posted improvement in its top-line business with approximately 18.2% year-on-year growth in revenue. At the end of FY23, the firm had net cash of around £1,469.3 million. The growth can be attributed to the strong business performance in North America.

For the ongoing fiscal year 2024, the firm has reiterated its profitability guidance. The company is anticipating that headline profit before tax will stay consistent with the current average consensus expectations of £1.04 billion for the full year. JD Sports is anticipating 35% of its full-year profits to be secured in H1 FY24. During the first half of the year, JD. has started around 32 new stores and is planning to open over 150 stores during the year.

JD Sports paid a final dividend of 0.67 pence per share in August 2023 with an ex-dividend date of 06 July 2023.

 Top 10 shareholders
Around 61% of the total shareholdings is held by the company’s top ten shareholders. While Pentland Group Plc owns approximately 51.64% shareholding, Invesco Advisers, Inc. holds over 1.57% shareholding in JD.

Stock Price Performance

The company’s stock has dropped by around 3.32% in the last one month, while it has fallen by 20.08% over the last 6 months. The stock’s 52-week low and 52-week high price stand at GBX 88.40 and 213.12, respectively.

 

 

Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 01 September 2023. The reference data in this report has been partly sourced from EODHD/Others.