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JD Sports update troubles the market

by LLB Editor
27th Jun 23 9:33 am

Terms like ‘softening in trade’ and ‘moderation in growth’ in JD Sports’ latest update go to show that even the most successful retail businesses can go through bad patches.

The trainers and athleisure seller recently got the market excited that it expects to exceed £1 billion in pre-tax profit this financial year, and it is sticking with that guidance despite pockets of weakness in its business.

AJ Bell’s Russ Mould said: “We continue to see many trainers from the likes of Nike sell out as soon as they go on sale, creating a buzz about the products which makes consumers want them even more. Many people see trainers as collectibles and they are happy to pay high prices in the belief they could be worth even more in the future. “Yet if the recession clouds darken over the economy, particularly in North America, then there is a risk that the demand dynamic could change because of affordability factors.”

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