JD Sports has launched a range of cost-cutting measures and delayed the publication of its preliminary results amid the coronavirus pandemic.
The sports fashion retailer’s chief executive Peter Cowgill has taken a voluntary 75% pay cut as a cost-saving measure, while the retailer’s board and senior management team have all voluntarily reduced their salaries by a quarter on a temporary basis.
JD Sports has also said it “does not believe that it will be appropriate to pay a final dividend this year” and has said it believes “it is in the best interests of shareholders if the group maintains its cash reserves” while the pandemic continues to disrupt day-to-day business operations.
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