JD Sports Lowers Profit Outlook Amid Weak Global Sales
· Business · The Independent, Bloomberg, Times of India
JD Sports has downgraded its annual pre-tax profit forecast to a range of £700 million to £800 million, down from its previous guidance of £750 million to £850 million. The retailer reported a 3.1 per cent decline in like-for-like sales for the 13 weeks ending August 1. North America emerged as the hardest-hit market, with sales falling 6.8 per cent due to a slowdown in demand for high-heat footwear and shifts in back-to-school purchasing. Conversely, UK sales saw a modest 0.8 per cent increase, supported by strong demand for football replica kits and outdoor products. The company attributed the overall downturn to persistent cost-of-living pressures, including higher fuel prices, which have impacted its core younger consumer base.
Why it matters
The profit warning and subsequent 14 per cent drop in share price highlight how rising inflation and energy costs are curbing discretionary spending on non-essential items like premium trainers. This trend signals a challenging environment for global retailers that rely on younger, budget-sensitive shoppers.
Read the original report — The Independent
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