JD Sports Lowers Profit Forecast Following Tough Holiday Trading

The retailer cites increased promotional activity and challenging market conditions as key factors behind the revised outlook.

JD Sports now expects annual pre-tax profits of £915 million to £935 million, down from its previous forecast of up to £1.03 billion.
Like-for-like sales fell 1.5% in November and December, with weaker performance in the UK and North America offset by growth in Europe and Asia Pacific.
The company chose not to engage in widespread discounting during the holiday season, prioritizing gross margins, inventory management, and cash flow instead.
Shares in the retailer dropped nearly 10% following the announcement, reaching a five-year low amidst ongoing market volatility.
CEO Régis Schultz expressed cautious optimism for the future but highlighted persistent headwinds, including economic pressures and competition in the sportswear market.