JD Sports plans to spend up to £360m a year on opening hundreds of new stores, in what it calls “underpenetrated” markets.
Chief executive Régis Schultz said a new five-year plan for the company targets double-digit revenue growth, with capex of £500m to £600m a year, 50% to 60% of which will be focused on store expansion. The company aims to open between 250 and 350 new JD stores each year.
Schultz said: “Today marks a new, distinct chapter in the growth story of JD as we set out plans to become the leading global sports-fashion powerhouse. Building on our strong existing position and attractive long-term market dynamics, we see significant growth opportunities ahead by expanding JD internationally, notably in North America and Europe.”
