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HIGH street sports chain JD Sports is banking on growth despite profits falling 8 per cent last year to £912million. The firm blamed a “challenging market” as the news sent its shares tumbling around 6 per cent today. 1 JD Sports' profits fell eight per cent last year - news which sent its shares tumbling around six per cent today Credit: Getty Revenues still climbed 2.

7 per cent to £10.4billion in the year to the end of January. JD opened more than 200 shops last year and wants to open a further 200 this financial year.



Sales have surpassed expectations at the new stores by as much as a fifth, according to boss Regis Schultz, who added: “We are on track.” The firm also launched its first store in the Middle East this month. Footwear sales were the year’s biggest success, rising 8.

2 per cent, but demand for jackets and coats fell because of the mild winter. The company sold brands Tessuti, Scotts, Choice, Giulio and Cricket to rival Frasers Group last year. Frasers today hiked its stake in German fashion firm Hugo Boss to £305million or 2.

47 per cent. Hugo Boss’s share price fell more than 13 per cent in one day last month, after it warned of weak demand in China and poor confidence in the US. Most read in Business FAMOUS FACES Joe Hart rubs shoulders with Gers stars as he's spotted at Hoops pal's wedding BLADE HORROR Machete thugs hacked at man in sickening attack as Glasgow gang feud exploded BLADE HORROR Man, 23, stabbed in broad daylight knife attack at bus.

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