JD Sports Fashion

JD Sports issued a profit warning, trimming underlying pre-tax guidance by £50m to £700m–£800m and seeing its shares fall about 14%. Management cited weak demand for ‘high-heat’ footwear from major brands, stronger competition, a promotional market and incremental cost-of-living pressures, especially in the US. Cashflow guidance was unchanged at £460m–£520m, while investor frustration and recent board changes highlight governance tensions as the share price returns to 2019 levels. » More on theguardian.com

JD Sports has lowered its profit forecast for fiscal year 2026/27, after which the stock in London briefly fell by about 15 percent and has lost roughly 65 percent since its record high. The company cited weak second-quarter sales, especially in the US, continued price pressure and reduced consumer spending as reasons. The news also weighed on competitors: adidas, PUMA and Nike recorded share price losses. » More on finanzen.net

Sports retailer JD Sports is scaling back its German store network for economic reasons and plans to close around 30 of about 100 shops. Confirmed locations include Krefeld, Herne, Wiesbaden, Zwickau, Kiel, Mülheim-Kärlich, Jena, München and Aschaffenburg; affected stores have been removed from the Store Finder. A clearance sale in Jena runs until 22 August, and branches in France are also to be reviewed. » More on t-online.de