JD Sports has revised its profit forecast to £915–£935 million, down from £1.04 billion, citing challenging market conditions and heightened promotional activity during the peak trading period.
For the nine weeks to January 4, 2025, the retailer reported 3.4% organic revenue growth, though like-for-like (LFL) revenue fell 1.5% in November and December. A stronger Christmas helped December LFL revenue rise by 1.5%.
CEO Régis Schultz said,
“We maintained trading discipline, ensuring gross margins, clean inventory, and strong cash flow, despite a more promotional environment. However, headwinds were higher than expected, prompting a cautious outlook for the new financial year.”
Key highlights:
- Footwear Sales: Outperformed clothing.
- Physical Stores: Outpaced online sales.
- Regional Growth: Strong in Europe and Asia Pacific, offsetting weaker UK and North America performance.
- Acquisitions: Courir added £7 million to profits, while Hibbett performed well in North America.
JD Sports remains focused on disciplined operations and long-term growth amid ongoing market volatility.
