Sherilyn Paterson, formerly the chief operating officer of JD Sports Fashion, has retired after a 12-year tenure.
- Paterson’s career at JD Sports began as head of merchandise for footwear in 2012, leading to promotions to merchandising director and eventually COO.
- Her departure comes amid a challenging market environment, impacting JD Sports’ financial performance.
- Shares in JD Sports fell by 5.7% following Nike’s disappointing quarterly sales report.
- The company has maintained its profit guidance despite experiencing lower than anticipated revenue in the second half of the year.
Sherilyn Paterson has concluded her role as chief operating officer at JD Sports Fashion, a position she held since February 2023. Her exit marks the end of a 12-year journey with the company, where she started as head of merchandise for footwear in 2012. Paterson’s career trajectory at JD Sports included a promotion to merchandising director in 2014, reflecting her valuable contributions to the company.
Before joining JD Sports, Paterson was employed in senior merchandising roles at renowned retail companies such as Kurt Geiger and Topshop. Her departure is understood to be due to personal reasons, though specific details have not been publicly disclosed.
The timing of Paterson’s retirement coincides with a difficult period for JD Sports. The company’s shares saw a 5.7% decrease to 119p, prompted by a weaker than expected quarterly sales performance from Nike. Nike reported a 2% reduction in revenue for the quarter ending 31 May, which included an 8% drop in direct-to-consumer sales.
JD Sports’ financial report for 2023/24 revealed an 8.1% decline in operating profit before adjusting items, attributed to increased wage and investment expenses. Despite this, the retailer experienced a 2.7% increase in revenue, totalling £10.4 billion for the year up to 27 January 2024. However, profit before tax and adjusting items decreased by 8% year-on-year to £912 million, a figure below expectations due to lower revenue in the latter half of the year coupled with ongoing investment costs.
Despite these challenges, JD Sports has maintained its full-year profit guidance, projecting a profit before tax and adjusting items between £955 million and £1 billion as announced in a March update.
Sherilyn Paterson’s departure reflects both her personal career decisions and the broader business challenges currently faced by JD Sports Fashion.
