Expensive, trendy trainers helped this retailer grow profits by nearly 50%

JD Sports, the high street sports and clothing retailer, had a bumper year in 2015, growing profits and sales massively thanks to British shoppers' appetites for expensive trainers.

In its full year results, released on Thursday, JD reported its full-year results for 2015, and the figures are hugely impressive for the retailer. Profit before tax for the retailer grew by 45%, while revenues jumped 20%.

Here are the highlights from the statement:

• Revenues; £1.82 billion, up 20% from last year.
• Operating profit; up 56% to £158.9 million.
• Earnings per share; up from 35.17 pence to 50.16 pence.
• Dividend per share; up from 7.05p to 7.40p, an increase of around 5%.
• Gross profit; 48.5%, down from 48.6% last year.

The store, a staple of high streets across the UK, put much of that success down to the growing trend for so-called "fashion trainers." People are increasingly wearing sports footwear in everyday life, and that's helped a new industry boom, something JD has taken advantage of.

Here are the key paragraphs from JD's results (emphasis ours):

"The investments made over a number of years in developing our multichannel retail proposition and driving improved buying, merchandising and retailing disciplines have given us the platform to exploit the favourable trends which exist for athletic inspired footwear and apparel throughout Europe. We remain committed to continually enhancing our proposition for both customers and third party brand partners."

"Sports Fashion has had an exceptional year with operating profits (before exceptional items) increased by 49% to £162.9 million (2015: £109.3 million). Our fascias have successfully exploited the buoyant market for branded athletic footwear and apparel across Western Europe with like for like store sales growth in excess of 10% for the second consecutive year. Whilst we would not expect a third year of organic growth at this level, the JD fascia is developing well in both its core and international markets."

Fashion trainers designed by the celebrities like rapper Kanye West are incredibly popular with consumers, and it's not uncommon for such shoes to sell out almost instantly, and then for pairs to appear on eBay for as much as £5,000 per pair. Harrods for example, is currently selling pairs of shoes designed by West for £800.

Along with the "athletic inspired footwear" trend, some of JD's success was down to stronger performances overseas, and operational changes in its outdoor brands, Millets and Blacks, the company said.

JD's chief executive, Peter Cowgill, had this to say about the results:

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