Sports and footwear giant JD Sports is to open a new flagship store at Colchester’s premier shopping destination, Lion Walk, set to open this October.
Lion Walk’s retail offering has continued to grow over the last two years under new management, with a range of major high street brands joining the scheme. Adding to the wider retail line-up in Lion Walk, the new store is complemented by Marks and Spencer, River Island, Primark and Boots.
JD Sports appears to be leading the way in post-pandemic recovery, announcing record interim results in the first six months of 2021.
In its interim results for the 26 weeks ended 31 July 2021, JD Sports recorded a revenue of £3.9 billion compared to £2.5 billion in the prior period. The retailer also reported a profit before tax and exceptional items of £439.5 million, up from £61.9 million in 2020.
Caitriona Hunter, Director at CBRE Investment Management commented on the signing: “JD Sports joining the scheme is a testament that Lion Walk Colchester continues to be a booming retail destination. We have worked collaboratively with JD Sports to be able to deliver this flagship store and provide a space that is engaging and new for our customers and fulfil the brands consumer demand. The store marks the confidence retailers have for Lion Walk and bolsters the current line-up, as well as supporting the wider town centre.”
Nigel Keen, Group Property Director for JD Sports added: “Despite the challenges of the last 18 months we have worked alongside CBRE Investment Management on this opportunity for JD to upsize from our current store to Culver Walk. This new location allows us to offer an extended and relevant representation of our product range for the benefit of the Colchester consumers.”
Last weekend, JD Sports opened a second store in Croydon, located at the Valley Retail Park. Earlier this month, JD Sports opened a second store at Westfield Stratford City, signing a 10-year lease for the new 31,000 sq ft location.