Jd Sports up in London, sales down in Q2 but signs of stabilisation from the US
by Ivan Torneo
1' min read
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(Il Sole 24 Ore Radiocor) - Jd Sports Fashion is advancing at the top of the FT-SE 100, following the release of second quarter figures. According to the quarterly accounts, comparable sales fell by 3%, down from -2% in the first quarter, mainly reflecting weakness in the UK market. In contrast, in the US - a market that generates about 40% of group revenues through the Jd Sports, Hibbett, Dtlr and Shoe Palace brands - there were signs of stabilisation that encouraged investors. The decline in comparable sales narrowed to -2.3% after -5.5% in the previous quarter, thanks to the postponement of some product launches and more positive momentum in apparel and online sales.
However, the stock remains in trouble: in the last year it has lost about 35% of its value, held back by a competitive market and reduced demand for Nike products - which account for almost half of total sales. These factors are compounded by the uncertainty linked to the medium-term consequences of the tariffs introduced by US President Donald Trump, which affect both costs and consumer demand.
