Overview

• Group like-for-like sales fell 2.5% to £5.94bn for the 26 weeks to 2 August, with total sales up 18% from the Hibbett and Courir deals and organic growth of 2.7%.
• Adjusted pre-tax profit fell 13.5% to £351m, while operating profit before adjusting items declined 8.2% to £369m as promotions and higher labour and property costs weighed on margins.
• North America, which contributes 39% of revenue, posted a 3.8% like-for-like drop, and the UK fell 3.3% with 13 fewer stores and tough comparisons after last year’s Euro football tournament.
• The company expects only a limited impact from US tariffs this financial year, noting direct exposure below 10% of US sales, though it flags uncertainty beyond the near term.
• JD confirmed a 0.33p interim dividend and said the second £100m share buyback is commencing, as it remains cautious about second-half trading.