JD Sports has reported a 13.5% decline in adjusted profits to £351 million for the six months to 2 August, as consumers face strained finances and shifting fashion trends. The sportswear retailer also closed a net 13 stores in the UK, part of a broader strategy to improve locations and optimise shop sizes, bringing the total number of UK store closures to 24.
Comparable sales fell across all regions, with North America—its largest market—dropping 3.8%. UK sales declined 3.3% to £1.46 billion. Overall group sales rose 20% to £5.94 billion, driven by acquisitions of Hibbett in the US and Courir in France, but like-for-like sales fell 2.5%.
Chief executive Régis Schultz said the company was focused on cost control and cash management amid “strained consumer finances and evolving brand product cycles.” He noted a shift in footwear trends away from retro basketball towards running and smaller brands, and expects limited impact from US tariffs, with direct exposure under 10% of US sales.
Operating costs rose 20% to £2.4 billion, partly due to acquisitions, but the company aims to achieve £30 million in cost savings this financial year. Schultz said the UK budget in November is unlikely to affect young consumers’ buying habits, but stressed the importance of not increasing labour costs.
Garry White of Charles Stanley commented: “It’s going to be a tricky second half… Consumers are cautious—especially in the UK.” JD Sports shares have fallen over 40% in the past year.
