JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) has been dealt another setback after Shore Capital cut its rating to 'hold', following a further slide in like-for-like sales and yet another trim to profit guidance.
The retailer cited a difficult macroeconomic and consumer environment as it enters the key festive business period.
JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) has warned that profits this year would be at the lower end of expectations despite what it called a “solid” third quarter performance, as signs of weakening consumer confidence start to show in its key markets.
JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) has spent much of the past year limbering up for recovery, but UBS thinks it is too early to call a return to form.
JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) shares were boosted after Nike earnings beat expectations, but UBS said the retailer may face near-term challenges from increased promotions in Europe.
Interim results from JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) did "not make for pleasant reading", one analyst said, but did not change the dial for many investors.
JD Sports Fashion PLC (LSE:JD.) announced a £100 million share buyback to jazz up a second quarter update that showed slower sales, but where the full-year profit outlook remained laced up tight.
JD Sports Fashion PLC (LSE:JD.) will issue a second-quarter trading statement on Wednesday 27 August, with investors focused on the impact of tariffs and performance in the US.
JD Sports Fashion PLC (LSE:JD.) has long been out of favour with the analysts at Deutsche Bank, but they're no longer quite so pessimistic.
Shares in JD Sports Fashion PLC (LSE:JD.) fell 2.4% in London trading on Monday after rival trainer retailer Footasylum unveiled a record financial performance that underscored mounting competition on the high street.
JD Sports Fashion PLC (LSE:JD.) looks likely to catch a tailwind from Nike's ongoing inventory clean-up, but headwinds remain as the retailer pivots to full-price growth.
Shares in JD Sports Fashion PLC (LSE:JD.) rose 3.5% in early trading, buoyed by news that Nike will raise prices on a range of its footwear and apparel from 1 June.