Cautious consumers hurt growth for JD Sports
Specialist sports apparel and footwear retail group JD Sports has said sales in the latter part of 2023 were lower than its expectations.
It said mild autumn weather had impacted growth in apparel sales, while the peak trading season, across the market in the build-up to Christmas, was “softer and more promotional than we anticipated”.
It said this was a reflection of a cautious attitude to spending among consumers.
Chief executive, Régis Schultz, said: “Our key markets have seen increased promotional activity during the peak trading season, driven by a more cautious consumer, but we continue to grow market share. We are confident in our strategy and we continue to invest in our supply chain, systems and stores.”
He said JD Sports had opened more than 200 new stores in 2023.
