JD Sports CEO Régis Schultz kicks on despite sluggish sportswear growth
As the sportswear market goes through a period of uncertainty, taking a hit from inflationary pressures, reduced consumer spending and a lack of innovation, JD Sports chief executive Régis Schultz remains confident in the retailer’s execution
As JD Sports warned of “cautious” consumer spending and a peak trading season “softer” than anticipated at the start of the year, it issued an earnings warning reducing profit expectations to between £915m and £935m compared with the previously pledged £1.04bn.
In its latest trading update, JD Sports delivered marginal sales growth of 0.1% on a like-for-like basis in its fourth quarter while full-year like-for-like sales and organic sales improved 4.2% and 8.4%, respectively.
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