JD Sports warns on profit as consumers rein in spending

JD Sports said its like-for-like organic revenue increased 1.8%, slightly less than expected

JD Sports said its like-for-like organic revenue increased 1.8%, slightly less than expected, for the 22 weeks ended on December 30th.

Sportswear retailer JD Sports Fashion lowered its full-year profit forecast on Thursday, citing higher costs, a slowdown in consumer spending and subdued demand for apparel amid milder weather conditions.

Retailers in the UK have experienced tepid growth as the ongoing cost-of-living squeeze prompts shoppers to rein in spending on non-essential items.