Particle.news
Download on the App Store
13 ARTICLES
·
2w ago

JD Sports Posts Profit Drop on Weaker Like-for-Like Sales, Keeps Full-Year Guidance

Management flags strained household budgets as the key headwind, expecting only a limited effect from U.S. tariffs this year.

Image
Image
Image
Image

Overview

  • Adjusted pre-tax profit fell 13.5% to £351 million for the six months to 2 August, in line with guidance.
  • Group like-for-like sales declined 2.5% while total revenue rose 18% to £5.94 billion, lifted by the Hibbett and Courir acquisitions, with organic growth of 2.7%.
  • Comparable sales fell across regions, including North America down about 3.8% and the UK down about 3.3%, as the company reduced its UK estate by a net 13 stores.
  • JD Sports said direct exposure to new U.S. tariffs is less than 10% of its U.S. sales and it expects only a limited impact this financial year, though longer-term effects remain uncertain.
  • The company remains cautious on second-half trading given pressure on consumer finances and unemployment risk but still expects full-year profit before tax and adjusting items to be in line with market expectations.