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JD Sports Lowers Profit Outlook as Sales Decline Worsens
- On Thursday, British sportswear retailer JD Sports lowered its full-year profit outlook after second-quarter sales declined 3.1%, with North America suffering a steeper 6.8% drop in its key market.
- JD Sports stated 'incremental cost-of-living pressures on our core consumer from continued inflation' dragged on global sales, while Nike, accounting for more than 40% of group sales, faced innovation challenges.
- Shares fell 12% in early trading as the firm reduced its full-year 2026/27 profit target to between £700 million and £800 million, down from previous guidance of £750 million to £850 million.
- Chief Executive Regis Schultz acknowledged that 'trading in the second quarter remained tough,' citing a 'highly promotional' market that 'may persist into H2' amid weaker consumer sentiment.
- UK trading edged up 0.8% driven by strong replica football kit demand, while critical back-to-school sales shifted from July into the first half of August; Asia Pacific rose 1.4%.
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'Trading in the second quarter remained tough': JD Sports says cost-of-living squeeze is hitting sales
JD Sports has said consumers being squeezed by cost-of-living pressures such as higher fuel prices has dragged on its global sales, despite receiving a boost from the demand for football kits in the UK.
·Leeds, United Kingdom
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JD Sports Cuts Outlook as Shoppers Curb Spending on Sneakers
JD Sports Fashion Plc cut its profit outlook after weaker-than-expected sales of sneakers in the second quarter, as its customers grapple with cost-of-living pressures and pull back on discretionary spending.
·New York, United States
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Coverage Details
Total News Sources27
Leaning Left3Leaning Right1Center9Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 23%
C 69%
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