JD Sports have reported a deeper decline in underlying sales for its second quarter, reflecting weakness in the UK, though there were signs of stabilisation in its key U.S. market after a sharp decline in the previous quarter.
The Bury based retailer said that like-for-like sales for its second quarter to August 2nd fell 3.0%, having been down 2.0% in the first quarter.
The group said a 6.1% fall in like-for-like sales in the UK reflected a tough prior year comparison when trade was boosted by the men’s Euro 2024 soccer tournament.
But it saw an improving trend in North America where like-for-like sales fell 2.3%, having been down 5.5% in the previous quarter, reflecting the deferral of several product launches from the first quarter, along with stronger sales trends in apparel and online
The Group said that it is “cautious” about trading over the rest of the year due to pressure on consumer finances and the risk of rising unemployment.
