Peter Cowgill, the chairman of JD Sports Fashion, does well to caution that the sort of breakneck growth that the company has seen at its core sports fashion business cannot be expected to continue forever. JD does not give detailed figures, but like-for-like sales were up by more than 10 per cent in the half-year to August 1, after a similar performance in the same period a year earlier.
JD finds itself in the enviable position of being a leader in a market that is growing fast, the crossover between sport and leisure wear. Its strong position on the high street means that it can pick and choose which brands to sell.
That like-for-like sales growth and new store openings translate into operating profits