JD Sports Fashion Reports 2.4% Sales Increase

JD Sports Fashion reported a 2.4% rise in second-quarter underlying sales, driven by strong growth in North America (+5.7%) and Europe (+3.0%), although UK sales saw a decline of 0.8%. The company opened 85 new stores and completed the acquisition of Hibbett, enhancing its presence in the US market significantly. CEO Régis Schultz noted that the overall performance was supported by the multi-brand strategy and favorable year-on-year comparisons, despite a cautious outlook due to a volatile global macro environment. JD Sports maintained its profit guidance for the year between £955 million and £1,035 million, excluding Hibbett's contributions. However, profit margins were affected by promotional investments and a decline in apparel and online sales. The company ended the period with a total of 4,506 stores worldwide, a notable increase from earlier in the year.