JD Sports boss is still struggling to turn up the heat on a tepid trainer market
Latest profit warning is particularly disappointing in a World Cup year, which should have given the global business a sporty buzz JD Sports cuts £50m from profit forecast as cost of living pressures hit trainer sales It was a slower quarter for “high-heat footwear product”, said JD Sports . It didn’t mean it was struggling to shift sandals during a heatwave. Rather, it was referring coyly to the…
JD Sports, the UK-based sporting goods retailer, is facing challenges in its trainer market, according to the latest profit warning. The company has cut its profit forecast by £50 million, citing cost of living pressures as a significant factor affecting sales. The sluggish performance in the global trainer market is attributed to a lack of innovative designs from leading brands such as Nike and Adidas.
These giants collectively account for more than half of JD Sports' sales, and their subpar performance has had a considerable impact on the retailer's profitability. This situation is not new for JD Sports' shareholders, who have been grappling with issues like "incremental cost of living pressures," particularly in the US, and the prevalence of "promotional markets" in the company's updates over the past couple of years.
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