Here is a summary of the trading update from JD Sports Fashion Plc for the third quarter of their 2024 fiscal year (Q3 25, or the 13 weeks ending 2 November 2024)
Despite volatile market conditions, JD Sports maintained strong margin management, with a 0.3% improvement in gross margin and 5.4% organic sales growth.
The company opened 79 new JD stores globally during the period, bringing the total number of new stores in Q3 to 181.
While there was strong back-to-school sales performance, October saw softer demand, attributed to elevated promotional activity, mild weather, and cautious consumer behavior, particularly in North America and the UK.
Regional performance varied, with Europe delivering LFL and organic sales growth, while other regions experienced softer trading.
The company expects full-year profit to be at the lower end of its original guidance range due to volatile trading conditions.
The acquisition of Courir, a female-oriented fashion fascia, is expected to complete shortly, complementing JD Sports global portfolio.
The companys strategic focus remains on store rollouts, with a successful program contributing to organic sales growth.
JD Sports maintains its commitment to its four strategic pillars: brand priority and global expansion, moving beyond physical retail, and investing in people, partners, and communities.