Published on 16 Jan 2024 on Footwear News via Yahoo Finance
JD Sports Shares Sink on Profit Warning
JD Sports Fashion Plc shares took a dive on Thursday morning after the shoe and apparel retailer warned about a hit to its annual profits.
The U.K.-based athletic retailer said in a release that sales in the 22 weeks leading up to Dec. 30 fell short of expectations, with constant currency organic revenue growth of 6 percent. Apparel growth in the period was impacted by “milder weather” in the back half of September. A broader promotional environment and overall cautious consumers also hurt sales during peak seasons.