Pentland Revenue Surges on Strength in Retail

Pentland Revenue Surges on Strength in
Lacoste Concept Store, London

The robust performance of Pentland Group Plc’s retail division drove a 10 percent lift in revenue for the 12 months ended Dec. 31. Amid a challenging economic environment, sales rose to 1.9 billion pounds, or $3.2 billion on a constant currency exchange basis.

The retail division, consisting of JD Sports Fashion Plc — in which Pentland Group holds a 57 percent stake — reported a 9 percent spike in sales to 1.3 billion pounds, or $2.2 billion, driven by strength in sportswear.

“In the year ending Dec. 31, 2013, Pentland Brands [and other non-retail] revenue was up 11 percent, fueled by record revenues from Speedo, Lacoste Chaussures and Ted Baker,” said Pentland Group CEO Andy Rubin.

Pentland Group owns a suite of footwear and apparel brands including Kangaroos and Boxfresh, and is the global licensee for Lacoste Footwear, Ted Baker Footwear and Kickers in the U.K.

Operating profit for the period increased 39 percent to 124 million pounds, or $210.9 million, in both Pentland’s brand and retail divisions. Profit before tax was 36 percent higher at 85 million pounds, or $144.6 million.

On the company’s expansion in Europe, Rubin said, “Speedo and Lacoste Footwear have a presence in all markets, Kangaroos and Boxfresh enjoy a strong presence in the U.K., Germany and Scandinavia, and Ted Baker is strong in the U.K. heartland and is growing in Germany and France.”

The firm said in a statement that Ted Baker delivered double-digit growth over the 12-month period, with strong performance in the U.K.