Cost pressures and footwear cycle push JD Sports profit down a fifth
JD Sports Fashion reported a 20% drop in half-year profit as consumer cost-of-living pressures and a weak footwear product cycle offset strategic progress across its global business.
Profit before tax and adjusting items fell to £282m in the 26 weeks to 1 August, down from £351m a year earlier, while sales edged down 0.7% to £5.9bn.
The sportswear retailer faced a challenging environment marked by cautious consumer spending, particularly among its core 16 to 24-year-old demographic, alongside what it described as footwear pro... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
