JD Sports Fashion PLC (LSE:JD.) reported a 13.5% decline in first-half profit, as weaker performance in its U.S. operations weighed on results. The retailer confirmed its full-year outlook but noted continued caution regarding the trading environment.
For the 12 months, JD Sports expects profit before tax and adjusting items to be in line with market expectations, ranging from £853 million to £914 million ($1.15–$1.23 billion), with the consensus at £878 million.
First-half profit totaled £351 million for the six months to 2 August, down from £405.6 million a year earlier, consistent with guidance issued last month. Revenue rose 18% to £5.94 billion, with organic sales up 2.7% amid what the company described as “a tough trading environment.”
JD Sports, which derives nearly 40% of its sales from the U.S. through its JD Sports, Hibbett, DTLR, and Shoe Palace chains, said it expects only a limited impact from U.S. President Donald Trump’s tariffs this year. Like-for-like sales, published last month, fell 2.5% overall, with declines of 3.8% in North America and 3.3% in the U.K.
“We remain cautious on the trading environment for the second half,” CEO Regis Schultz said.
The board declared an interim dividend of 0.33 pence, unchanged from the same period last year.
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