Sports says cost-of-living squeeze hitting sales despite football kit boost

JD Sports says cost-of-living pressures are weighing on demand, dragging on sales even as football kit demand in the UK provides some lift. Over the 13 weeks to August 1, the retailer reported a 3.1% like-for-like sales decline year-on-year. The weakness was steepest in North America, where sales fell 6.8%. Footwear sales were hit hardest, particularly for anticipated or limited-edition trainers, amid deeper discounting. Running shoes and newer footwear styles partially offset the fall. UK sales rose 0.8%, supported by outdoor-related spending and stronger football replica kit sales during the World Cup group stages. JD now expects full-year pre-tax profit of £700m–£800m, down from £750m–£850m previously.