Despite inflation, Decathlon to maintain worldwide sales in 2023

Decathlon has maintained its sales, at €15.6 billion in 2023 (+1.15%) despite persistently high inflation, and reached a net profit of €931 million (+0.9%), according to a press release from the French group specialising in the distribution of sporting goods issued on Thursday.

The company explains that its revenues increased by 4.4% “at constant exchange rates”, but that exchange rate effects as well as “the impact of the cessation of commercial activities” in Russia resulted in a limited increase in revenues of 1.15%. Decathlon is due to detail its results for France later on Thursday.

The group, which was founded in 1976 in Englos, France has also kept the share of its sales generated online above 17%, as in 2022, compared with just 8% in 2019.

High inflation in 2023, particularly in food prices, has weighed on the results of many retailers selling so-called “discretionary” goods, i.e. those considered less of a priority or essential by many consumers.

In other words, once consumers had spent their money on food, they had less disposable income to spend on sporting goods.

“In 2023, companies around the world operated in unprecedented circumstances. At Decathlon, we have made the choice to use this moment to act and to transform ourselves,” said Barbara Martin Coppola, CEO of Decathlon, in the press release.

The group, which employs 101,000 people and has 1,750 shops in more than 70 countries, announced in mid-March a significant reduction in its brand portfolio, a change of logo and a desire to position itself not just as a chain of shops, but as a “sports brand”.

Decathlon, which says it will have sold 1.19 billion products worldwide by 2023, has also promised to reduce its direct and indirect carbon emissions (scopes 1, 2 and 3) by 20% by 2026, by 42% by 2030 compared to 2021, and by zero net emissions “by 2050”, in particular by developing the re-use of products.

Barbara Martin Coppola said she was “particularly proud of the significant reduction” in CO2 emissions, “while maintaining (revenue) growth” for the group she has been managing since the beginning of 2022.

Decathlon has announced a 10% reduction in its emissions in 2023 compared with 2022 (scopes 1, 2 and 3).