A sports and athletic fashion apparel and footwear retailer has reported its losses from the August rioting around England.
The JD Sports Fashion Plc businesses, particularly JD, were impacted in certain areas by the recent riots, according to its half yearly report. It stated:
Stock totalling £0.7 million was looted from a total of 16 stores with six stores in the London area suffering very significant thefts. Whilst London was impacted more than other areas, we also saw damage to stores in Birmingham, Manchester and Nottingham. This damage could have been significantly worse but for the pre-emptive actions which we took in certain locations to prevent looters accessing the stores. The JD store at Woolwich [in south east London] suffered fire damage in the riots and has not yet re-opened. However, all other stores were reopened by Sunday 21 August.
The retailer added that it is working with insurers on the subsequent claim, covering theft of stock, repair costs and business interruption. It does not believe that the riots will have a material adverse impact on the out turn for the current year. Visit –
