Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Low unemployment amongst young driving demand, says JD Sports boss

LONDON (Reuters) – Historically low unemployment for the young is driving demand for JD Sports Fashion’s trainers, joggers and hoodies despite accelerating living costs, its boss said on Wednesday.

“Our key customer target is a young adult and the young adult all over the world is benefiting from low unemployment,” CEO Régis Schultz told reporters.

“That is driving the morale and the revenue of our key customer,” he said after JD reported record results for its 2022-23 year.

He said there was little difference between British, European and U.S. consumers.

“We are seeing the same trends, we are seeing the same appetite for new product,” he said, noting wearing trainers or sneakers was the “new normal” for footwear.

“You see that in the street – 80% of shoes are sneakers, ten years ago it was formal shoes and sneakers are much less expensive than a formal shoe,” he said.

Schultz said on average its prices are 5% to 10% higher year-on-year and he expected further small increases going forward.

The key reason for inflation in our industry has been transportation and energy costs. In both cases it’s coming down and it’s coming to an end, so we should see (consumer) prices coming back to a normal inflation,” he said.

 

(Reporting by James Davey; editing by Sarah Young)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts