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JD Sports Fashion PLC on Thursday guided to low-end annual profit pointing to weaker macroeconomic and consumer indicators in recent weeks. The Manchester, England-based sportswear retailer anticipates full-year pretax profit before adjusting items to be within the lower end of current market expectations of £853 million to £888 million. This would be down from £912.4 million in the 52 weeks to January 27, 2025. JD Sports said recent indicators have shown ‘incrementally weaker macroeconomic and consumer external data points in our key markets’ while the company is ‘particularly mindful’ of the pressures on its ‘core customer demographic, including rising unemployment levels, as well as near-term volatility around consumer sentiment.’ The FTSE 100 listing said it has operated ‘amid macroeconomic volatility, strained consumer finances, and evolving brand product cycle.’ Like-for-like sales fell 1.7% in the 13 weeks to November 1, but grew 2.4% on an organic basis. By region, LFL sales declined 3.3% in the UK, 1.7% in the US and 1.1% in Europe. They rose 3.9% in Asia Pacific. Total third quarter sales including acquisitions rose 8.1% at constant foreign exchange rates. JD Sports noted a solid performance in apparel reflecting strength of the product range but continued softness in footwear with positive momentum within ’running’ offset by end-of-cycle for key product lines. Chief Executive Regis Schultz said: ‘North America delivered an improved like-for-like sales trend in Q3, alongside resilient trends in Europe. The UK had a better organic sales performance, supported by the continued success of our new flagship store at the Trafford Centre in Manchester. By category, our apparel range is resonating well with customers, providing us with opportunity for growth in underserved key markets.’ Excluding acquisitions, gross margin percentage in the quarter was 30 basis points lower year-on-year, largely driven by lower prices online. ‘Inventory levels continue to be managed effectively, and we are well set up for our peak trading period’, the firm added. Shares in JD Sports were down 0.7% at 79.84 pence each in London on Thursday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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