JD Sports lowers profit guidance amid cost-of-living pressures

JD Sports has lowered its full-year profit guidance, now expecting pre-tax profits between £700 million and £800 million, down from a previous forecast of £750 million to £850 million. The retailer reported a 3.1% decline in like-for-like sales for the 13 weeks ending August 1, 2026.

CEO Régis Schultz attributed the downturn to cost-of-living pressures, including inflation and higher fuel prices, which have impacted the company’s core younger consumer base. The North American market was hit hardest, with sales falling 6.8% year-on-year. In contrast, the UK saw a slight sales increase of 0.8%, bolstered by demand for outdoor products and football replica kits.

Analysts from GlobalData noted that the company faces a maturing sportswear market and an over-reliance on Nike, which has struggled with footwear innovation. While JD Sports is seeing growth in technical sporting goods and brands like On and Hoka, these have not yet fully offset declines in the athleisure and traditional footwear segments.