JD Sports issues profit warning after ‘soft’ peak trading
JD Sports has lowered its full-year profit guidance after revenue growth was hit by “milder weather”, “cautious” consumer spending and a peak trading season “softer” than anticipated.
The sportswear retailer said both constant-currency organic revenue growth and like-for-like growth for the 22 weeks to December 30, 2023, were “slightly behind expectations” at 6% and 1.8% respectively.
JD Sports attributed the slow sales across its apparel ranges to “milder weather” from the second half of September.
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