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The Markets
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The Markets
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Proactive UK has moved.
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Retail

First look at JD Sports under new boss

Investors will be keeping a keen eye out for anything that could signal a shift in strategy towards being more digitally focused

JD Sports Fashion PLC (LSE:JD.) will on Thursday post its first set of results under the stewardship of new chief executive Régis Schultz, with the interim numbers giving investors the opportunity to see if there is any immediate shift in strategy.

When Schultz was appointed in August, reports highlighted that he was the top choice for the role due to his digital transformation skills and track record with turnarounds.

A strategy change does not seem like an immediate requirement, as the FTSE 100 retailer has its own very good track record, although this was under its long-time former boss Peter Cowgill.

Back in July, JD said sales in the first five months of its financial year were 5% ahead of last year on a like-for-like basis and that annual profit before tax and exceptional items was expected to be in line with last year’s "record performance".

Despite the positivity, it said the current year would reflect a "more normalised trading pattern", with roughly 35-40% of total profits generated in the first half.

What's more, no retailer is fully immune to the macro-environment, so some commentary on this will be expected.

Shares are down 41% in the year so far.

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