JD Sports Fashion PLC (JD.L), a sneaker and sport fashion retailer, reported Wednesday that its fourth-quarter- to-date like-for-like or LFL sales dropped 1.8 percent, while sales grew 1.4 percent organically.
Looking ahead, the company expects fiscal 2026 adjusted profit before tax to be in line with current market expectations. The company anticipates fiscal 2026 gross margin for the Group to be around 50 basis points lower from last year.
Further ahead, the company currently anticipates a period of muted market growth in fiscal 2027.
Regarding the trading, Régis Schultz, CEO, stated, "Overall sales during the peak period were in line with our expectations, against a volatile consumer backdrop. Black Friday saw strong customer engagement across all regions, but demand softened in the first half of December, particularly in Europe and the UK. We responded decisively in the final weeks of the period by choosing to make targeted price investments, and we saw improved sales in the immediate run-up to Christmas Day and the period after, demonstrating the strong customer appeal of JD and its complementary fascias, in a challenging market."
In North America, fourth-quarter to-date LFL sales grew 1.4 percent and organic sales growth was 5.3 percent, supported by a good Black Friday, peak holiday season performance, and successful delivery of new product launches.
In Asia Pacific, LFL sales went up 2.8 percent and organic sales grew 9.6 percent.
Meanwhile, sales in Europe fell 3.4 percent on LFL basis, but grew 0.9 percent organically. Sales trends were impacted by a cautious consumer environment, with higher promotional participation around Black Friday and the peak holiday season.
In UK, LFL sales fell 5.3 percent and organic sales fell 4.8 percent.
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