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
3 being questioned in relation to discovery of 25 year man's body in Narewa River
Three people are being questioned at Nadi Police Station following the discovery of the body of a 25 year old man along Narewa River on Friday. Pol...
11 hours ago
LATEST NEWS
Fiji has participated in world affairs since the First World War - Rabuka
Fiji has participated in world affairs like the first World War, and the second World War, Malayan emergency peacekeeping, and Fiji will continue to ...
24 minutes ago

Parkinson highlights parental responsibility in shaping future leaders
If you choose to bring children into this world, then your job is to be able to educate them, create that environment, provide them with the security ...
32 minutes ago

RKS head boy aims to end bullying and reviving school culture
Ratu Kadavulevu School head boy Lemeki Senikau, says he aims to address the bullying issues with his deputies in Lodoni and restore the school ...
41 minutes ago

Peter Roberts is Australia’s next High Commissioner to Fiji
Peter Roberts OAM has been announced as Australia’s next High Commissioner to Fiji. Roberts is a senior career officer with the Department of ...
14 hours ago

Lautoka youths inspire hope through prayer and kindness
Against the concerns over youth involvement in crime, students from the Assembly of God Mt Zion Cathedral Sunday School are changing the narrative by ...
15 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
World Radio Day
Radio remains one of the best mediums for news and information for a number of reasons and in situations such as natural disasters and political ...
4 days ago

Health Minister Dr Lalabalavu on fijivillage Straight Talk with Vijay Narayan
Health Minister, Doctor Ratu Atonio Lalabalavu on fijivillage Straight Talk With Vijay ...
12 days ago

PM Rabuka on fijivillage Straight Talk With Vijay Narayan
Prime Minister, Sitiveni Rabuka on fijivillage Straight Talk With Vijay Narayan. The in-depth interview will focus on many issues facing the ...
16 days ago

TOP