The British sportswear retailer reported that sales for the six months to 1 August were down 0.7% year‑on‑year, driven by a 1.7% decline in its biggest market, North America, and a 1.6% fall in the United Kingdom.
Growth in the Asia‑Pacific region partially offset the decline, with sales there rising by more than 10% over the same period.
JD Sports attributed the slowdown to cost‑of‑living pressures that have reduced disposable income, especially among its core 16‑to‑24‑year‑old demographic, and to a weakening footwear market where fewer major product launches from brand partners have dampened consumer confidence.
In response, the company lowered its full‑year pre‑tax profit outlook last month, now expecting earnings of £700 million to £800 million, down from the previously guided range of £750 million to £850 million.
The retailer also disclosed that its global store count fell to 4,766 in August, meaning more than 100 outlets have closed since the same point last year.
Analyst Victoria Scholar of Interactive Investor noted that struggles at key partners such as Nike have a knock‑on effect on JD Sports, given the latter’s reliance on those brands for a significant share of its sales.