JD Sports Fashion saw its shares fall 11% on Tuesday after the sportswear retailer cut its profit guidance and reported a sharper-than-expected slowdown in sales.
The London-listed company’s stock dropped to 83.3 pence, nearing the lower end of its 52-week range of 64.46 pence to 106.15 pence. Shares were last indicated down 14.32%.
Management reduced its full-year 2026/27 profit before tax and adjusting items guidance to a range of £700 million to £800 million, down from the prior £750 million to £850 million. The revised outlook sits below the £852 million reported for the 2025/26 fiscal year.
Group like-for-like sales fell 3.1% in the 13 weeks to August 1, a steeper decline than the 2.5% drop recorded in the first quarter. North America, which accounts for roughly 39% of group revenues, remains a key area of pressure.
The company’s update follows a period of macroeconomic headwinds, with UK inflation holding at 2.9% year-on-year in July. The FTSE 100 ended little changed in the prior session, reflecting broader market caution amid mixed economic signals.
