JD Sports warns that the Iran-related conflict and broader geopolitical uncertainty could affect consumer demand, its profitability, and pricing. The sportswear retailer says a “muted market” is already weighing on spending, particularly among younger customers, and that continuing concerns about the Middle East could further reduce activity and sentiment. In the year ahead, the company expects profits to fall to a range of £750 million to £850 million, following £852 million reported for the year ended January. In separate reporting, JD Sports indicates it has been adjusting its store footprint in the UK, closing 24 stores on a net basis over the past year. The outlets also note that the retailer expects uncertainty to weigh on profits, while warning it could contribute to higher price rises, reflecting potential pressures affecting the wider retail environment. Overall, the statements present a cautious outlook that combines domestic demand softness with external geopolitical risk.
JD Sports warns Iran conflict and weaker spending could reduce profits and raise prices
JD Sports warns that the Iran-related conflict and broader geopolitical uncertainty could affect consumer demand, its profitability, and pricing. The sportswear retailer says a “muted market” is alrea...
- JD Sports warns that uncertainty linked to an Iran conflict could weigh on its profits in the year ahead.
- The company cites weaker spending in a “muted market,” particularly affecting younger consumers.
- JD Sports forecasts profits of between £750m and £850m for the year ahead, down from £852m reported for the year ended January.
- JD Sports reports a net closure of 24 stores in the UK over the past year.
- The retailer says the situation could contribute to higher price rises.
Retail group with 4,800 stores worldwide expects drop in profits this year amid ‘muted market’Business live – latest updatesThe sports fashion retailer JD has warned that profits will fall this year amid a “muted market” hit by weaker spending by young people and concerns about the Middle East conflict.The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January. Continue reading...
3 months agoThe retail chain closed 24 stores, on a net basis, in the UK over the past year
3 months agoThe retail chain said uncertainty about the geopolitical situation could weigh on its profits in the year ahead.
3 months ago
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