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Highlights

  • In H1 FY25, JD Sports Fashion PLC achieved revenue of GBP 5,032.2 million, marking a 5.2% increase from GBP 4,783.9 million in H1 FY24.
  • The company has announced an interim dividend of GBX 0.33 per share which is expected to be paid on December 6, 2024.

JD Sports Fashion PLC (LSE: JD.) is an FTSE 100-listed international retailer. It specializes in sports fashion brands.

H1 FY25 Financial Snapshot

The company runs 4,506 stores, reflecting an increase of 1,189 since the start of the year. This growth is attributed to new store openings, the acquisition of Hibbett, and disposals. It achieved organic sales growth of 6.4% and overall revenue growth of 5.2%, totaling GBP 5,032.2 million, which includes GBP 61 million from Hibbett.

However, profit before tax dropped to GBP 126.3 million from GBP 353.7 million in the previous year, a decrease of 64.3%. This decline was primarily driven by lower margins in Q2 due to increased promotional activities across apparel and online sales.

Recent Business Update

Following the interim results released on October 2, an interim dividend of GBX 0.33 per share was revealed. It is expected to be disbursed on December 6, 2024. This payment will be made to shareholders registered by November 8, 2024, with the ex-dividend date set for November 7, 2024.

Company Outlook

The company's trading performance met expectations in the first half of the year. However, the company is experiencing currency challenges due to the pound's strength against the US dollar and euro. The guidance is based on specific exchange rates. For H2, the anticipated impact from currency fluctuations is around GBP 20 million. Furthermore, the company expects that adjusting items for the full year and around GBP 25 million to profit before tax will be contributed by Hibbett. This projection takes into account acquisition adjustments, completion costs, and a GBP 25 million interest expense related to the new acquisition facility.

Top 10 Shareholders

The top 10 shareholders of JD account for about 68.23% of total shareholdings. Pentland Group Plc has the largest shareholding of approximately 51.64%. Fidelity Management & Research Company LLC follows with around 4.95% stake. The chart below illustrates these details.

Stock Information

JD's stock price has declined by approximately 11.21% over the past month. However, it has increased by about 3.57% over the last six months. The stock reached a 52-week low of GBX 103.00 and a 52-week high of GBX 177.75. Currently, it is trading below the average of its 52-week high and low.

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 05 November 2024. The reference data in this report has been partly sourced from EODHD/Others.