No items found.

U.S. Profits Soar for JD Group

Share:

The JD Group is thriving in the U.S. market. The publicly traded U.K.-based company’s U.S. footprint consists of JD Sports, Finish Line, Shoe Palace and DTLR Villa — 1,220 doors overall. Total U.S. revenues hit the equivalent of $1.89 billion for the period ended July 31. The four different banners generated a 233 percent increase in H1 EBIT for JD Group to the equivalent of $340.7 million.

Baltimore-based DTLR Villa, acquired on March 17 for $504.4 million cash, generated $267.7 million in revenues for the subsequent weeks ended July 31 and an EBIT contribution of approximately $50 million. Shoe Palace, meanwhile, contributed $51.2 million in EBIT for the six months on H1 revenues equivalent to $284.8 million. H1 revenues for the Finish Line, acquired in June 2018 and currently operating 446 storefronts and 290 shops inside Macy’s locations, rose 15.5 percent in British pounds to the equivalent of $1.33 billion.

On the expansion front, JD intends to convert approximately 25 more Finish Line banners to JD in H2 to bring the total number of JD-bannered doors in the U.S. to 91. As for its latest acquisitions, the Group says it has the support of international brands to open additional Shoe Palace stores in Spanish-speaking communities on the West Coast and in Southern border states and additional DTLR doors in core Northeast markets.