JD Sports warns on profit in 'challenging' market
The stock had already lost 27% of its value in the last three months on worries about consumer spending and amid a downturn in demand for Nike products, which account for about 45% of JD's sales.
Retailer JD Sports Fashion downgraded its profit forecast after weaker trading in Britain and the United States and promotional activity at competitors hurt sales.
Shares in JD plunged 12% in early deals to a near five-year low after it warned the outlook was "cautious".
