JD Sports is now more valuable than Marks & Spencer after braving the High Street gloom to increase sales and profits.
Revenue in the sportswear chain rose by 35 percent in the six months to August 4 as a revival in the 1990s, with 15 to 30-year-olds seeing Fila trainers and training equipment from Ellesse.
Profit increased by 19 percent to 121 million pounds during the period.
Revenues at JD Sports increased by 35 percent in the six months up to and including August 4, when a 15-year revival saw 15 to 30-year-olds swallowing Fila trainers and tracksuits from Ellesse
Turnover in the comparable stores in the United Kingdom stores was flat, but was stimulated by its online activities. Demand for brands sold by JD Sports, including Nike, Adidas and North Face, have seen the value of £ 5.1 billion increase – for M & S with a value of £ 4.7 billion.
In his latest attempt to improve his fortune, M & S unveiled the TV presenter Holly Willoughby this week as a new & # 39; style ambassador & # 39 ;.
Laith Khalaf, senior analyst at Hargreaves Lansdown, said: & # 39; There are not many retailers in the High Street who have been able to raise 50 percent of their share price last year, but that's the nice place where JD Sports in it. is now knocking on the door of the FTSE 100. & # 39;
Earlier this year, online retailer Asos M & S overtook market capitalization, because Marks struggles to keep up with the rapidly changing fashion flavors.
The online food company Just Eat, which was founded in 2001, is also worth more than the 134-year-old High Street retailer.
JD Sports has recently set its sights on expanding abroad while trying to crack America, Asia and the rest of Europe.
In June it hit almost £ 400 million on the American Finish Line, the biggest deal since its foundation in 1981.
The Manchester-based company has no plans to open more stores in the UK and Ireland, but it is preparing for almost double the number of stores in Liverpool, Manchester and Dublin.
Khalaf added: "The performance of JD shows that it is possible to flourish on the High Street, although future store openings in this country are likely to be limited.
This means that the retailer will be looking for digital and overseas sales, and possibly further acquisitions, to stimulate growth from this. & # 39;
Peter Cowgill, CEO of JD Sports, said: "There is much more a relaxed approach to clothing in clubs and bars than before – trainers are much more acceptable as a form of footwear.
& # 39; A culture change has occurred and we have taken the lead in delivering the best product for that lifestyle. & # 39;