JD Sports Reports Increase in Sales in North America

• JD Sports announced an increase in sales in North America
• The company plans to acquire shares for £100 million
• Future forecasts remain cautious due to economic risks

JD Sports confirmed a 4% increase in shares following the announcement of improved sales in North America and plans to buy shares for a total of £100 million sterling. JD shares reached 98.1p each, which is 4.3% higher than the average for the week.

For the 26 weeks to September 2, the company reported a 2.5% decrease in sales compared to the same period last year. However, on an organic basis, revenue increased by 2.6% year-on-year.

In the second quarter, sales on an analogous basis decreased by 3%, but on an organic basis, increased by 2.2%. North America, which is JD's largest market with 36% of sales, showed good results thanks to new footwear lines.

However, the situation in Great Britain and Europe worsened: in Great Britain, sales on an analogous basis decreased by 6.1% in the second quarter, which led to an overall sales decline of 3.3% for the first half of the year. In Europe, sales decreased by 1.1% in the second quarter and by 0.4% in the first half.

JD Sports expressed cautious optimism for the future, stating that it continues to control costs and prepare for potential consequences of trade tariffs in the U.S. General Director Régis Schuylz noted that the company is making significant progress in developing its strategy for sustainability and improving supply chain efficiency.

Tags: Economy