JD Sports to expand Go Outdoors brand as sales rise
today Nov 28, 2018
JD Sports is planning to expand the Go Outdoors retail brand that it bought from its previous private equity owners last year and has signed up for a major distribution centre in Cheshire to support the growth it’s expecting for the chain.
That news came as the company filed accounts showing that new store openings boosted turnover at the brand to more than £230 million in the year after JD Sports bought it for £112.3 million.
Turnover hit £232.5 million for the 53 weeks to 3 February 2018, up from £213.8 million a year earlier. Pre-tax profit rose to £9 million from £1 million with EBITDA before exceptional items up to £15.7 million from £14 million.
The company opened two large new stores during the period and has opened another two since.
And its new distribution hub will help it as it rolls out further. JD is renting a 353,000 sq ft site belonging to logistics developer Delin Capital on a five-year lease with the firm saying that it will be a platform “to enable further sales growth” for the Go Outdoors brand.
Outdoor clothing is a major growth area and JD has a heavy presence in the sector through its Blacks, Millets and Ultimate Outdoors brands, as well as Go Outdoors. The brand will now be able to use the distribution centre to supply its 58 UK stores.
JD Sports head of property Giles Selby told Property Week that he was “pleased to have completed so quickly”.
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