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1h ago

JD Sports Posts Profit Drop as Like-For-Like Sales Fall, Keeps Full-Year Guidance

Management expects only a limited near-term effect from US tariffs.

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The giant JD Sports store at the Trafford Centre in Manchester
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Overview

  • Adjusted pre-tax profit fell 13.5% to £351 million for the 26 weeks to August 2.
  • Like-for-like sales declined 2.5%, while total revenue rose about 18% to £5.9 billion with contributions from Hibbett and Courir and organic growth of 2.7%.
  • North America like-for-like sales fell 3.8% to £2.3 billion, the UK dropped 3.3% with 13 fewer stores and tough Euro 2024 comparisons, and Europe slipped 0.3%.
  • The board declared a 0.33p interim dividend and confirmed a second £100 million share buyback will begin.
  • The company flagged a tough second half due to pressured consumer finances and heightened promotions but reiterated that full-year profit guidance remains in line with market expectations.