JD Sports warns annual profit to fall as Iran war weighs

LONDON, May ⁠7 (Reuters) - British sportswear retailer ​JD Sports forecast a further fall in profit in its 2026/27 year, ​reflecting an ‌expectation of muted market growth and uncertainty over the potential ⁠impact of the Middle East conflict on ⁠its customers and the ​business.

The FTSE 100-listed group, which makes about 40% of its revenue in North America through its JD Sports, Hibbett, ​DTLR and ‌Shoe Palace stores, on Thursday forecast 2026/27 profit before tax and adjusting items of 750 million pounds to 850 million pounds ($1.02-$1.16 billion).

That compares to 852 million pounds made ​in its year to January 31 2026 which was a ‌6.4% decline versus the previous year and in line with expectations.

Shares in JD Sports ‌have fallen 19% so far this year, reflecting pressure on the group's core younger and less affluent customer base, a market ​driven by promotions and a lack of innovation from key supplier Nike, ‌which is resetting its business. Nike products account for about 45% of JD Sports' sales.

The group said it was providing ⁠a ⁠wider range of profit guidance than it ‌was previously planning for because of the potential impact of a prolonged Iran ​war, ​though it noted it has no direct exposure ‌to the Middle East.

For its first quarter to April 25, JD reported a 2.3% fall in like-for-like sales. (Reporting by James Davey; Editing by Kate Holton)

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