JD Sports: CEO’s bonus cut as FTSE 100 giant loses £1bn profit race to Next
The boss of JD Sports has missed out on a major pay day after the FTSE 100 retailer lost the race to report a profit of £1bn to Next.
Régis Schultz took home a pay packet of just over £2m for the Greater Manchester-headquartered group’s latest financial year, up from the £1.5m he received in the prior 12 months.
That increased figure did include his annual bonus rising from £395,000 to £824,000.
But that annual bonus was smaller than it could have otherwise been after JD Sports’ profit before tax and adjusted items fell in the year to 1 February, 2025.
Morning Wire reported last month that the group’s profit before tax and adjusted items declined by four per cent to £923m while its statutory pre-tax profit was cut by 11.3 per cent to £715m.
JD Sports beaten to £1bn profit by rival Next
Earlier in its financial year JD Sports had been eyeing a profit of £1bn but two cuts to its annual guidance in the space of less than two months took it out of the running.
It was beaten to the milestone by FTSE 100 rival Next, whose chief executive was rewarded with a pay boost.
In its annual report, JD Sports said its CEO’s annual bonus did not include any pay out against its profit before tax and adjusted items metric and only 40 per cent of the maximum in regards to the group’s revenue.
JD Sports’ revenue in its latest financial year increased year 10.2 per cent to £11.4bn.
The CEO did however get a 100 per cent payout regarding the group’s net cashflow before dividends, financing, acquisitions and disposals were taken into account.
As a result, Schultz’s annual bonus was around 38 per cent of what its maximum total could have been.
JD Sports confirmed last month that it would pay a full-year dividend of £52m, up 11 per cent on last year, and plans to start a £100m share buyback programme.