JD Sports to open 140 stores in Mexico via franchise deal

JD Sports is expanding into Mexico through a long-term franchise partnership with local retail distributor Grupo Axo, a move designed to offset a significant sales slowdown in its core North American market. The British sportswear retailer announced on September 21, 2026, that the agreement will see Axo operate more than 140 JD-branded stores and an online platform in Mexico starting in 2027. The partnership leverages Axo's existing estate of sneaker stores, with selected locations to be expanded and converted to JD's larger format over time. The deal grants Axo access to JD's own-brand and exclusive product portfolio across footwear, apparel, and accessories. JD Sports CEO Régis Schultz described the move as an "exciting milestone," stating that the company's position at the intersection of sport, music, and fashion aligns closely with consumer demand in Mexico. The expansion comes as JD Sports confronts a challenging period in North America, which generates 38% of its global turnover. Sales in the region fell by 6.8% in the three months to August 2026, prompting the company to cut its full-year profit guidance by £50 million to £800 million.