LONDON (Reuters) -British sportswear retailer JD Sports Fashion forecast full-year profit within the lower end of current market expectations, saying it was mindful of incrementally weaker macro and consumer indicators in recent weeks.
The FTSE 100-listed group, which makes nearly 40% of its revenue in the United States through its JD Sports, Hibbett, DTLR and Shoe Palace stores, said it was taking a pragmatic approach to its profit outlook ahead of its peak trading period.
Prior to Thursday’s update analysts were forecasting the group’s 2025/26 year profit before tax and adjusting items in a range of 853 million pounds to 888 million pounds ($1.11-$1.16 billion), with a consensus of 871 million pounds, down from the 923 million pounds it made in 2024/25.
Shares in the group have lost 31% of their value over the last 12 months, reflecting a weak macroeconomic backdrop plus a market driven by discounts and a drop-off in demand for Nike products, which make up about 45% of its sales.
JD Sports reported a 1.7% fall in third quarter to November 1 like-for-like sales, an improvement on the previous quarter’s 3.0% decline.
Like-for-like sales were down 1.7% in North America, down 3.3% in the UK and down 1.1% in Europe.
($1 = 0.7657 pounds)
(Reporting by James Davey; editing by Sarah Young)
