JD Sports Forecasts Lower Full-Year Profits

JD Sports Fashion has warned that its annual profit will be at the lower end of its forecast range due to a challenging trading environment in October, characterized by increased discounting, unseasonable weather, and cautious consumer behavior ahead of the U.S. election. The retailer reported a 0.3% decline in underlying sales for the third quarter, with significant regional impacts: a 2.4% drop in the UK, 1.5% in North America, and 3.8% in Asia Pacific, though Europe saw a 3.5% increase. CEO Regis Schultz noted that while the back-to-school sales were strong, the latter part of the period reflected a drop in consumer demand. The company anticipates a full-year profit before tax between £955 million and £1.035 billion, compared to £917.2 million the previous year. JD Sports aims to maintain its long-term commercial strategy despite the volatile market conditions.