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Highlights

  • JD Sports Fashion PLC (LSE: JD.) is an FTSE 100 index-listed multichannel retailer of sports fashion and outdoor brands
  • For FY23 ending 28 January 2023, the company reported an 18.2% increase in revenue at GBP 10.13 billion.
  • On 08 May 2023, the company said it made negotiations with regard to the potential future acquisition of 100% of the issued share capital of Courir for an enterprise value of €520 million

JD Sports Fashion PLC (LSE: JD.) is an FTSE 100 index-listed multichannel retailer of sports fashion and outdoor brands. The two key business segments of the company are Sports Fashion and Outdoor.

For FY23 ending 28 January 2023, the company reported an 18.2% increase in revenue at GBP 10.13 billion, compared to GBP 8.56 billion in FY22. The strengthening of trade in North America supported this revenue growth.

This UK-based retailer's operating profit (before adjusted items) increased by 4.6% to GBP 1.06 billion vs GBP 1.01 billion in FY22. Supported by strong earnings growth, JD announced a final dividend of 0.67 pence per share (pps), taking its full-year dividend in FY23 to 0.80 pps, 128% higher than its FY22 dividend of 0.35 pps. The final dividend will be paid on 04 August 2023 to the eligible shareholders.

On 08 May 2023, the company said it made negotiations with regard to the potential future acquisition of 100% of the issued share capital of Courir for an enterprise value of €520 million. However, the transaction is not expected before H2 FY24. The proposed acquisition of Courir falls in line with JD's growth strategy of operating stores with a primary focus on female consumers.

FY24 Outlook

JD said FY24 began with a positive business momentum driven by its attention-grabbing in-store experience, breadth in the range of brands and availability of key styles. JD expects profit before tax to exceed £1 billion for the first time during FY23, driven by an increased consumer demand for trainers, joggers and hoodies. In a nutshell, the company will continue to benefit from high consumer demand and improved consumer confidence.                                          

Top 10 Shareholders:

Worth mentioning here are the top 10 shareholders of the company collectively hold around 64.01% stake in the company, with Pentland Group Plc holding the maximum stake of 51.64%, followed by Fidelity Management & Research Company LLC with 4.91% shareholding, as depicted in the chart below. The top four shareholders alone hold a 59.38% stake in the company.

Stock price performance

The stock has gained around 28.32% in the last six months, and over the last 12 months, it has appreciated by 39.41%. The stock has a 52-week high and 52-week low of GBX 213.118 & GBX 88.401, respectively.

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 19 June 2023. The reference data in this report has been partly sourced from EODHD/Others.