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JD Sports Launches £100 Million Buyback After Quarterly Sales Dip, Keeps Profit Outlook

Management cited limited direct tariff exposure in reaffirming its profit guidance.

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Adidas sneakers are seen on display at the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30. REUTERS/Mina Kim/ File Photo
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Overview

  • Group like-for-like sales fell 3% in the 13 weeks to Aug. 2, with the UK down 6.1%, North America down 2.3%, Europe down 1.1% and Asia Pacific up 0.3%.
  • Shares rose roughly 4%–5% on the update, though the stock remains more than 30% lower over 12 months and over 50% below its 2021 peak.
  • JD unveiled a new £100 million share buyback, following a recently completed £100 million repurchase.
  • The retailer maintained full-year profit guidance in line with consensus around £885 million and flagged a cautious consumer backdrop and a shifting footwear product cycle.
  • The company said direct effects from new US tariffs are not material and it is monitoring potential indirect impacts, as North America showed improved trends helped by newer footwear, apparel and online.