JD Sports has reported a 6.1% decline in like-for-like UK sales for the 13 weeks to 2 August, highlighting fragile consumer confidence. The leisurewear retailer struggled to match strong prior-year figures boosted by the Euro 2024 football tournament and demand for women's footwear styles such as Adidas Samba and Gazelle.
The company said it has cut prices online in response to tough market conditions, particularly in footwear for women and children. The UK downturn contributed to a 3% drop in underlying group sales, with only the Asia Pacific region showing growth. US sales fell 2.3%, though this was better than expected despite new import tariffs.
Despite the sales slump, JD Sports shares rose 5% on Wednesday after the company confirmed it remains on track to meet full-year profit expectations, which had been downgraded in recent months. It also announced a £100m share buyback. CEO Régis Schultz described consumers as “resilient but very selective” and said the company remains cautious on the trading environment.
In a separate development, Frasers Group, owner of Sports Direct and House of Fraser, has acquired We Do Play, operator of Flip Out trampoline parks and Putt Putt Social. Frasers’ chief acquisition officer, James France, called it a milestone in diversifying into leisure experiences.
