Greater Manchester based JD Sports has seen profit fall as the retailer warned it is preparing for a period of “muted” growth amid weak consumer spending and potential Iran war cost pressures.
Pre-tax profit fell by twelve per cent to £629m in the year to January, even as sales rose by 12 per cent to £12.7bn.
The Company said that it is preparing for “muted market growth” in the coming year, “shaped by a weaker spending outlook for our core customer demographic and ongoing product cycle evolution at some of our major brand partners, particularly in footwear”.
Of the conflict in the Middle East it adddd
“Over time, the potential future impacts of heightened uncertainty may contribute to direct cost pressures, including energy and fuel costs across our store and logistics networks, respectively, as well as potential indirect impacts on pricing and consumer demand should input cost inflation emerge.”
