JD Sports cuts profit forecast as global sales decline

JD Sports has downgraded its annual profit forecast after reporting a significant decline in global sales, driven by cost-of-living pressures that have squeezed consumer spending, particularly in its crucial North American market. The sportswear retailer now expects full-year pre-tax profits to be between £700 million and £800 million, a reduction from its previous guidance of £750 million to £850 million.

The company announced the update on Thursday, August 20, 2026, alongside its second-quarter trading results. For the 13 weeks ending August 1, 2026, group like-for-like sales fell by 3.1% compared to the same period last year. This decline accelerated from a 2.5% drop in the first quarter, indicating a worsening trend.

The downturn was most severe in North America, JD Sports' largest market, where sales plummeted by 6.8% year-on-year. The company attributed this to weaker consumer sentiment, a slower period for highly anticipated footwear launches, and the timing of back-to-school demand, which shifted into August. Europe also saw a sales decline of 2.7%. In contrast, the UK delivered a modest 0.8% increase in sales, buoyed by strong demand for football replica kits during the...