JD Sports Fashion (JD) investor relations material

Executive summary

• Delivered resilient FY26 performance in a challenging trading environment, with total sales up 11.7% driven by acquisitions, a customer-first approach, and disciplined execution.

• North America became the largest region by sales and profit, showing improving momentum through operational and brand investment, with 3.2% organic growth.

• Free cash flow rose 36% year-over-year to £462 million, supported by operating cash flow growth and capital discipline.

• Announced a 20% increase in ordinary dividend and a rolling £200 million annual share buyback programme.

• FY27 guidance focuses on cost control, advancing five key strategic priorities, and controlling controllables.

Financial highlights

• Total sales reached £12,662 million, up 11.7% year-over-year, reflecting full-year contributions from Hibbett and Courir acquisitions; organic sales grew 2.1%, LFL sales declined 2.1%.

• Statutory gross margin remained flat year-over-year at 47.0%, with controlled price investments offset by higher marketing contributions.

• Operating profit was £886 million, down 5.4%, with an operating margin of 7%.

• Profit before tax and adjusting items was £852 million, down 7.7% year-over-year; statutory PBT was £629 million, down 12%.

• Adjusted EPS declined 5.5% to £0.1171; dividend per share increased 20% to 1.20p.

• Free cash flow improved by £123 million to £462 million, representing a 35% EBITDA conversion.

• Net cash position increased by £259 million to £311 million after dividends and buybacks.

Outlook and guidance

• FY27 profit before tax and adjusting items expected in the range of £750–£850 million; free cash flow guidance for FY27 is £460–£520 million.

• Market growth expected to remain muted, with U.S. market more resilient than U.K. and Europe.

• Net new space growth to contribute 2–3% to sales.

• Continued focus on cost efficiencies, productivity initiatives, and controlled price investments, weighted more towards H1.