JD Sports cuts £50m from profit forecast as cost of living pressures hit trainer sales

Inflation fuelled by Iran conflict deterring shoppers, especially in the US, says high street chain The sports fashion retailer JD has cut £50m from its profit forecast as cost of living pressures, fuelled by the US war on Iran, weighed on sales of trainers.

JD Sports, which sells brands including Nike and Adidas, said widespread inflation had hit shoppers’ wallets, particularly its core young shoppers, resulting in a drop in sales across important markets such as the US, where it struggled to shift trainers and other footwear.

Continue reading...