JD Sports announces expansion into Mexico via Grupo Axo partnership

JD Sports Fashion has announced an expansion into the Mexican market through a franchise partnership with Grupo Axo. Scheduled to begin in 2027, the deal involves the operation of over 140 stores and a dedicated online platform. The move targets Mexico’s youthful consumer base, where the activewear market is projected to exceed $10bn by 2034.

This expansion follows recent financial challenges for the retailer. The company reported a 3.1% decline in like-for-like sales in the 13 weeks ending August 1, with North American stores seeing a 6.8% decrease. Consequently, management lowered its 2026/27 adjusted pre-tax profit guidance to a range of £700m-£800m. CEO Régis Schultz attributed the recent performance to cost-of-living pressures and footwear product cycle headwinds.