JD Sports cuts profit forecast, blaming big fashion price cuts

JD Sports cuts profit forecast, blaming big fashion price cuts

By fijivillage
Sunday 26/01/2025
JD Sports said sales at established stores were down 1.5% in November and December. Photograph: May James/Reuters

JD Sports has cut profit expectations for the second time in eight weeks, blaming heavy discounting across the fashion market.

The retailer said it did not expect any growth in sales at established stores during the year and warned that annual profits would be no more than £935m, down from previous hopes of between £955m and £1.03bn.

Shares in JD, which also owns the Size?, Blacks and Millets brands in the UK, fell 10% as it cut forecasts below its previous expectations and warned of a tough economic backdrop for retailers.

Retail assistants say they have to pay a fee if they want to receive their wages within a month. ‘So immoral’: gig economy workers charged fee to get paid quicker Read more The JD Group chief executive, Régis Schultz, said: “With these trading conditions expected to continue, we are taking a cautious view of the new financial year.”

Sales at established stores were down 1.5% in November and December in a “challenging and volatile market that saw increased promotional activity”, as a rise in sales in the final weeks of the year failed to offset a poor November.

Trading in the UK and US was particularly weak, while its stores outperformed its online arm, in contrast with Christmas trading at other listed fashion retailers, such as Marks & Spencer and Next.

JD – which also owns the Finish Line brand in the US and SportsZone and Sprinter in mainland Europe – said footwear sales were up, outperforming clothing, in the final two months of 2024, while the outdoor and camping goods chains outperformed fashion.

FEATURE NEWS
Raju files complaint against man who allegedly asked foreigner for party donations and said no receipts will be issued
Shailendra Raju, who was a campaigner for the People’s Alliance in the 2022 general elections and also a former executive of the Fiji Labour Party a...
37 minutes ago
LATEST NEWS
Fiji Institute of Chartered Accountants Congress boosted by $60,000 sponsorship from Vodafone and Asco
The Fiji Institute of Chartered Accountants Annual Congress, which will be held at the Crowne Plaza Fiji Nadi Bay Resort and Spa, has been boosted by ...
24 minutes ago

We are actively working to resolve all pending salary payment issue - Radrodro
Following concerns by many teachers on the delay in payment of their salary and FNFP contributions, Minister for Education, Aseri Radrodro says they ...
38 minutes ago

Damodar Group and Yatu Lau begin Arts Village project with cultural blessing on Serua Island
The Damodar Group and Yatu Lau Limited have officially begun their development partnership in Serua, marking the occasion with a traditional sevusevu ...
2 hours ago

6-year-old boy with Fijian links dies after tonsil surgery in New Zealand
A 6-year-old boy with Fijian links has died after a tonsil surgery at Southern Cross Hospital in Auckland earlier this week. The family was told ...
2 hours ago

More MPs needed in Parliament to represent the people rather than more Ministers and Assistant Ministers – Matalau
A call to have more Members of Parliament rather than having more Ministers and Assistant Ministers has been made by the people of Tailevu. The ...
3 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Top Interventional Cardiologist Dr Kapadia on fijivillage Straight Talk With Vijay Narayan
The show will focus on health services in the country. The former Marist Brothers Primary and High School student who has been practising medicine ...
2 days ago

Supervisor of Elections on fijivillage Straight Talk With Vijay Narayan
The interview focus on preparations for the 2026 general elections, voter related issues, electoral laws, the 2022 glitch and the municipal council ...
2 days ago

Swire Shipping Fijian Drua Coach, Glen Jackson on fijivillage Straight Talk With Vijay Narayan
Swire Shipping Fijian Drua Coach, Glen Jackson appeared on fijivillage Straight Talk With Vijay Narayan from the Drua base in Nadi. Coming off ...
6 days ago

TOP