Shares of Bury-based FTSE 100 retailer JD Sports Fashion plc rose about 8% as the firm’s new CEO Régis Schultz and his management team gave investors an update on the strategic approach for the group over the next five years.

At a capital markets event for sell side analysts and investors, the CEO outlined “how JD will enhance its position as the leading global sports-fashion specialist” with the firm calling the plan “A New Distinct Chapter in the Growth Story of JD.”

The management team set out further details on its growth strategy and key objectives for the next five years which include double digit revenue growth, double digit market share in key regions and double digit operating margin.

The objectives also include capital expenditure (CapEx) of £500 million to £600 million per annum with 50% to 60% of spend focused on store expansion in underpenetrated markets with 250 to 350 new JD stores per annum, and cash generation from operating activities of £1 billion per annum.

Schultz said: “Today marks a new, distinct chapter in the growth story of JD as we set our plans to become the leading global sports-fashion powerhouse.

“Building on our strong existing position and attractive long-term market dynamics, we see significant growth opportunities ahead by expanding JD internationally, notably in North America and Europe.

“We will also be enhancing our omnichannel retail offering, investing in technology and analytics, and leveraging our long-term strategic brand partnerships, to better serve more customers.

“Our track record of disciplined investment and strong retail execution means that JD is extremely well positioned to capitalise on its material headroom for growth globally and continue delivering value for shareholders.”