JD Sports’ N.A. Growth Powered by Hibbett, Not Comps
Filling out the preliminary numbers released a month ago, JD said that total North American sales increased 32% in the fiscal first half ended Aug. 3 to £2,318 million ($3,091 mm) from £1,754 million, primarily due to the contribution from acquired Hibbett and City Gear stores. Adjusted operating profit dropped by 8% to £181 million ($241 mm) from £196 million. Organic sales, including new stores but excluding HIBB, increased 3.1%, while comps were down 3.8%, mainly due to weakness in Q1. North America accounted for 39% of the group’s total revenue, ... Log in to view full article.