JD Sports has announced that its full-year pre-tax profit is expected to align with the lower end of its guidance range of US $ 1195 million to US $ 1295 million. The company attributed this revision to a challenging trading environment and softer performance in October despite strong sales in August and September.
In its third-quarter update, JD Sports reported a 0.3 per cent decline in like-for-like (LFL) sales, though year-to-date LFL sales rose by 0.5 per cent. Stores outperformed online channels, while footwear continued to surpass apparel in sales growth. The company’s organic sales grew by 5.4 per cent during the period, contributing to a year-to-date organic growth of 6.1 per cent.
Régis Schultz, CEO, highlighted volatility in October trading, especially in North America and the UK, due to elevated promotional activity, unseasonable weather, and cautious consumer sentiment. Gross margin for the period improved by 0.3 percentage points to 48.1 per cent.
The company continued its expansion strategy, adding 79 new stores in the quarter, bringing the total to 181 openings this year. By the end of Q3, JD Sports operated 4,541 stores globally, including acquisitions. Europe remained a strong performer, achieving both LFL and organic sales growth.
