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JD Sports Xmas sales fall as weak UK, Europe hit by volatile market
(Sharecast News) - Fourth-quarter sales at JD Sports Fashion slipped further during the Christmas period as a return to growth in North America - the retailer's biggest market - was offset by a weak performance in the UK and Europe amid a volatile consumer environment. Group like-for-like sales fell 1.8% in the nine weeks to January 3, compared with a 1.7% decline in the previous quarter.
North America, which generates 40% of sales, posted a 1.5% rise, while the UK and Europe fell 5.3% and 3.4% respectively.
JD Sports said it also expected "muted" market growth in fiscal 2027, citing the weak spending outlook for its core customer demographic and because its major brand partners are in "the early stages of the innovation pipeline". However, the sportswear fashion chain said it still expected to outperform the market.
Current-year profit guidance was maintained, with adjusted pre-tax profit forecast to be £849m according to a company-compiled consensus compared with the £923m reported in 2024/25.
Current-year gross margin is forecast to be 50 basis points lower, driven by price investments, it added.
"JD Sports' trading update is a mixed bag, with recent gains in North America and Asia-Pacific offset by weakness in UK and Europe. It's not a great look as the market had been hoping JD would have regained its balance and have a spring in its step following a miserable time in recent years," said AJ bell head of markets Dan Coatsworth.
"The market reaction is surprisingly positive as the stock has avoided another sell-off. That's partially down to JD reassuring on 2026 guidance, saying it is comfortable with market expectations."
"The turnaround in North America is important given JD now has a large presence in the region through acquisitions. A decision to boost marketing in North America over the coming year is an indication of management confidence and a determination not to get left behind."
Reporting by Frank Prenesti for Sharecast.com
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