News

JD Sports Cuts Profit Forecast Amid Tough Market Conditions

JD Sports Cuts Profit Forecast Amid Tough Market Conditions

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.

Related posts

Garment Technology Expo ’19: Amith Garment to unveil ‘Digital Pick Counter’

Perfect Sourcing Newsdesk

Prime Minister Jacinda Ardern ‘angry’ at the Warehouse Group

India to soon initiate its own fashion trend forecasting

Perfect Sourcing Newsdesk

Leave a Comment