JD Sports Lowers Profit Expectations After October Sales Decline

The retailer cites unseasonable weather, cautious consumer spending, and trading volatility in key markets for the revised forecast.

JD Sports now expects annual profits to be at the lower end of its £955 million to £1.04 billion guidance range, following weaker-than-expected October sales.
Shares in the company fell sharply by up to 17%, erasing approximately £800 million in market value, with its stock down 32% over the past year.
Like-for-like sales dropped 2.4% in the UK and 1.5% in North America in the third quarter, while Europe showed resilience with a 3.5% sales increase.
The company attributes the slowdown to mild weather, increased promotional activity by competitors, and cautious consumer spending, particularly in the US ahead of the upcoming election.
Despite challenges, JD Sports continues its global expansion, opening 181 new stores this year and nearing completion of its acquisition of French sneaker retailer Courir.