JD Sports reported third-quarter sales of £3.0bn, up 8.1% ignoring exchange rates, reflecting the positive impact of recent acquisitions. On a like-for-like basis, sales fell by 1.7% as all regions except Asia Pacific posted declines.
JD Sports cautioned that recent macroeconomic and consumer data point have shown weakness ahead of its peak trading period in the fourth quarter. As a result, full-year underlying pre-tax profit guidance has been downgraded from £878mn to around £853mn.
The group remains on track to generate positive free cash flow and complete £200mn of share buybacks.
The shares fell by 1.3% in early trading.
Our view
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JD Sports key facts
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