British retailer JD Sports Fashion has reported a 2.4% rise in like-for-like (LFL) sales for the second quarter of fiscal 2025.
Organic sales also grew by 8.3% during the quarter.
The company credited its improved quarter-on-quarter performance to its multi-brand operating model and more favourable comparisons with the previous year.
North America Leads with 5.7% LFL Growth:
In the 13 weeks ending 3 August 2024, the company’s North American business posted the highest like-for-like (LFL) growth at 5.7%, with Europe following at 3%.
JD Sports Fashion’s UK business saw a 0.8% decline in like-for-like (LFL) sales over the quarter, while organic sales increased by 1.2%.
The company recorded like-for-like (LFL) growth across all three main segments: JD, Complementary Concepts, and Sporting Goods & Outdoor.
Continue Exploring: Sports brands score big as fitness wave sweeps across India
Fueled by new store openings, the JD segment achieved 11% organic growth.
During the quarter, JD Sports Fashion’s gross margin decreased by 30 basis points to 48.4% compared to Q2 FY24.
The company reported a decline primarily in apparel and online sales, with the UK being the most affected.
In the first half (H1) of the fiscal year, JD Sports Fashion saw a 0.7% increase in like-for-like (LFL) sales and a 6.4% rise in organic sales.
JD Sports Fashion Opens 85 New Stores:
The company opened 85 new JD stores in H1 FY25, bringing the total to 4,506 stores, an increase of 1,189 since the beginning of the year.
In July 2024, JD Sports Fashion finalised the acquisition of Hibbett, a US-based athletic-inspired fashion retailer.
JD Sports Fashion CEO Régis Schultz stated: “I am pleased to report a 2.4% increase in like-for-like sales and an 8.3% rise in organic sales for the second quarter, highlighting the strength and flexibility of our multi-brand model.”
“We observed double-digit organic sales growth in North America and Europe, driven by the ongoing success of our JD store rollout programme. We completed the acquisition of Hibbett just before the end of the period and anticipate its positive impact on our US business’s growth in the coming years. Based on our performance in the first half, we remain confident in achieving profit within our full-year guidance.”
