Investment case

Global sportswear market in long-term structural growth

It is forecasted that the value of the global sportswear market will grow 6.6% per annum over the next 5-7 years as consumers continue to switch from more formal clothing to lifestyle apparel and footwear.

6.6%

JD is the global leader of the premium sports fashion category

Sports fashion is driving the overall growth of the market and, within this category, JD is the clear global market leader in a fragmented premium sports fashion retailing market. It is best positioned to capture a growing share of this market over the coming years from both same store and new store growth.

3.4%

An attractive route to market for the major sportswear brands

Our scale, growth and both global and local distribution are attractive to the major sportswear brands. We have very strong relationships with all key brand partners including Nike Inc., adidas, The North Face and New Balance, and benefit from a relatively high level of exclusive products. We are Nike’s no.1 global partner.

76%

Strong consumer proposition, focused on brand-conscious young adults

The JD brand is laser-focused on the 16-24 year olds consumer group. This group makes up 50-65% of our customer base, they are extremely brand conscious and they continue to view sportswear as their first choice for spending discretionary income.

50-65%

A clear five-year strategic plan

Launched in February 2023, our strategic plan is clearly defined through four key pillars – JD Brand First, Complementary Concepts, Beyond Physical Retail and People, Partners and Communities.

Financial targets include opening 200-250 new JD stores every year and achieving double-digit revenue growth, double-digit market share in key markets and a double-digit group operating margin.

200-250

Highly cash generative with a strong balance sheet

We generate significant cash from operations each year and net cash before lease liabilities was £1.0billion at the end of the period. This balance sheet strength positions us strongly to invest capital into our organic growth and finance potential acquisition opportunities.

£1.0BN