JD Sports has claimed it is “successfully navigating” the challenges faced by the ongoing cost-of-living crisis.
Speaking to InternetRetailing, JD Sports group operations director Sherilyn Paterson said the sportswear retailer’s target audience, which it believes to be 16 to 24 year-olds, has an “increased buying power” due to its younger demographic and “lower unemployment figures”.
According to Paterson, the sportswear retailer’s target demographic have also “proven resilient” and “more sheltered” against the impacts of the cost-of-living crisis and rising inflation rates.
“The products we sell are a very important part of their lifestyle and identity, so they will prioritise this expenditure,” Paterson continued.
These comments come as the retailer is this year ranked Elite in the RetailX Top500 for the first time.
Recently, the self-styled “King of Trainers” appointed former Curry’s and Asos chair, Ian Dyson as a new non-executive director.
At the time chair Andrew Higginson said he is “delighted” to welcome Dyson to the board.
“He brings a wealth of relevant experience and insight to our deliberations. The appointment of Ian is further progress towards strengthening the board’s broader PLC experience base,” he said.
Download the RXUK Top500 research to read the full interview with Sherilyn Paterson.
