JD Sports reveals a downturn in UK sales, which hurts retailers for fragile consumer confidence.
Revenues at UK stores fell 6.6% as casual wear companies struggled to beat strong deals last year when it gained growth from the men’s Euro 2024 European Cup Championships, as well as women’s growing tastes of sports footwear such as Adidas’ Samba and Gazelle.
The company said it has invested in lowering prices online due to “hard comparisons,” especially in footwear for women and children.
The UK sales slippage caused 3% sales in the period during the 13 weeks ending August 2, with sales only increasing in the Asia-Pacific region.
U.S. sales fell 2.3%, although that’s better than the impact of new import tariffs proposed by the Trump administration this year.
Despite sales declines, JD’s stock rose 5% on Wednesday morning, reflecting the company’s confirmation that the company can still make full-year profits based on expectations, although those profits have been downgraded in recent months. The company also announced a £100 million share buyback.
but Click on the retail price on the London stock market on Tuesday.
Régis Schultz, CEO of the retail group, operates JD Sports Fashion Chain worldwide, but in the United States, Sport Zone and Corir in the continental Europe and Blacks and to Outdoors in the United Kingdom have finish line and shoe palace chains in our region and fastiias outdoor activities, and in general, we trade throughout the region and in the trade environment. [the second half of the year]. ”
He said several product launches were postponed in the second quarter, and sales trends in clothing and online were stronger, with improved performance in the U.S. In continental Europe and the UK, he said that despite the tough market conditions, clothing and new footwear “basically perform well”.
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In another sign of the future of traditional UK retail, Frasers’ brands include sports direct chains and Fraser Department Stores, he said, adding that we are indeed playing, which is the operator of social recreational venues, including the indoor adventure park with flipped trampolines and crazy golf golf expert Putt Putt Social, whose investment company is investing in.
“Today’s announcement marks an important milestone in our strategy to diversify consumer and leisure experiences,” said James France, chief acquisition officer of Frasers.
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