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.
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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.