Skip to main content
BoF Logo

Agenda-setting intelligence, analysis and advice for the global fashion community.

The Business of Fashion
Retail

JD Sports Suspends Final Dividend to Save Cash Amid the Covid-19 Crisis

The British sportswear retailer further delayed the publication of its full-year results and announced Chairman Peter Cowgill will forgo 75 percent of his salary.
JD Sports store.
JD Sports store. (Shutterstock)
By
  • Reuters

MANCHESTER, United Kingdom —  JD Sports on Friday suspended the payment of final dividend in order to maintain its cash reserves and said Chairman Peter Cowgill will take a 75 percent voluntary reduction in salary amid the coronavirus pandemic.

Britain's biggest sportswear retailer, which has shut all of its stores in the UK, United States and Europe, has further delayed the publication of its full-year results to provide clarity on the coronavirus' impact on the group's performance.

JD Sports said it would announce preliminary results for the 12 months to February 1 on July 7, after delaying it to May in the previous month.

The retailer has also differed the payment of bonuses and other incentive payments for the year ended February 1, adding that its board and senior management team have agreed for voluntary salary reductions of at least 25 percent.

ADVERTISEMENT

The company said it would consider paying bonuses and incentives at some point after its stores have re-opened and resume dividend payments when conditions allow.

By Shanima A; editor: Amy Caren Daniel

In This Article
Topics
People
Organisations
Location
Tags

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

The New Reality of Shipping to Saks

While $1.75 billion in court-approved funding has brought labels back to the fold, the real test for vendors will come when that temporary safety net vanishes later this year.

The Step-by-Step Guide to Brand Elevation | Case Study

A growing number of mass and premium brands are pushing upmarket with a more luxe look, better materials and, often, higher prices. This case study unpacks how these labels are navigating the tricky challenge of elevating a brand.

view more
Latest News & Analysis
Unrivalled, world class journalism across fashion, luxury and beauty industries.

Estée Lauder’s Surprise Acquisition, Explained

The American cosmetic giant’s buyout of Ayurvedic beauty line Forest Essentials came as a surprise. By picking an under-the-radar brand it knows well, the company can show that it’s still in the M&A game without needing to outbid rivals.

VIEW MORE

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.