Sumary of JD Sports chief defends his £4.3m bonus as shares hit a record high:
- The boss of JD Sports defended his controversial £4.3million bonus as soaring profits sent shares to a record high.
- Peter Cowgill said the ‘numbers speak for themselves’ and claimed the row over his payout had been ‘exaggerated’.
- Bonus dispute: JD Sports boss Peter Cowgill said the ‘numbers speak for themselves’ and claimed the row over his £4.3m payout had been ‘exaggerated’Critics said the executive chairman should not have received the cash after JD received £100million worth of Government support during the Covid-19 crisis.
- But Cowgill, pictured, insisted the company’s stunning performance – a £300million rise in profits from even pre-pandemic levels – justified the payout.
- ’ His comments came as JD reported half-year sales of £3.9billion.
- Bosses insist they will decide whether to hand back furlough cash by the end of the year, with Cowgill claiming several challenges remain, such as a potential winter resurgence of Covid-19 and supply chain problems.
- But he said sales and profits in the first half had been ‘extremely encouraging’.
- Tracksuits, trainers and casual sportswear proved highly popular during the pandemic as people spent more time at home.