JD Sports Fashion PLC (LSE:JD.) is planning to add 250 to 350 new stores annually for the next five years as part of its growth strategy.
At a capital markets event, chief executive Régis Schultz outlined a new plan to enhance the company’s position as the “leading global sports-fashion specialist.”
Included within that is £500mln to £600mln of capital expenditure per year, with at least half focused on store expansion in unpenetrated markets.
“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,” said Schultz in a statement.
“We will also be enhancing our omnichannel retail offering, investing in technology and analytics, and leveraging our long-term strategic brand partnerships, to better serve more customers.”
"Our track record of disciplined investment and strong retail execution means that JD is extremely well positioned to capitalise on its material headroom for growth globally and continue delivering value for shareholders."
Additionally, the FTSE 100 retailer is targeting double-digit revenue growth, double-digit market share in key regions and double-digit operating margin, as well as cash generation of £1bn per year from operating activities.
JD's shares were up 8.6% to 177p in midday trading.