JD Sports is facing an investor backlash after handing its boss a £4.3m bonus despite benefiting from millions of pounds in Covid support. Executive chairman Peter Cowgill's total pay, including a short-term salary reduction, reached nearly £5m.The retailer received £61m through the UK furlough scheme and an estimated £38m in business rates relief. It benefitted from an additional £25m in wage support from other countries where it operates, including the US. JD Sports was also granted a £300m loan through the Bank of England's Covid Corporate Financing Facility Scheme which was set up to help larger firms through the pandemic. JD Sports said it had not used any of the loan by the time the scheme closed in March. As a non-essential retailer, JD Sports was forced to close during lockdown. However, the company, which has stores across the UK, Europe, the US and Asia Pacific, reported a 0.9% rise in revenues to £6.1bn as it shifted sales to online. Pre-tax profit fell by 7% to £324m. JD Sports will hold its annual general meeting on 1 July when shareholders will be invited to vote on the company's remuneration report alongside other resolutions.
