The Greater Manchester based JD Sports has downgraded its profit forecasts for the year after disappointing festive trading results
The retailer suffered a 1.5% like-for-like sales decline across November and December in what it described as a “challenging and volatile market that saw increased promotional activity”
The group trimmed its full-year 2025 pre-tax profit forecast from the lower end of £955 million to £1.035 billion to between £915 million and £935 million.
CEO Regis Schultz said:
‘In line with our proven long-term approach, we chose not to participate in what was a more promotional environment in the period than we anticipated, fully maintaining our trading discipline to deliver gross margins ahead of last year, clean inventory and strong cash management.”
He added that “While I am pleased overall with our performance, market headwinds were higher than we anticipated and therefore our full-year profit forecast is slightly below our previous guidance.”
