LONDON (dpa-AFX) - JD Sports Fashion Plc (JD.L), a branded sportwear retailer, Thursday said that its like-for-like sales decreased for the second quarter compared to the same period last year.
Further the company cut its adjusted profit outlook for the second half of the year.
Quarterly total sales was £3.08 million, a decrease of 1.3 percent in organic sales and 3.1 percent in like-for-like sales.
Looking to the second half of the year, the sportswear retailer now expects profit before tax and adjusting items of £700 million to £800 million compared with the previous guidance of £750 million to £850 million.
'Trading in the second quarter remained tough. The market stayed highly promotional, reflecting the consumer and footwear product cycle headwinds our industry has faced in recent quarters, whilst our core consumer was impacted by incremental cost-of-living pressures.', commented Regis Schultz, CEO of JD Sports Fashion.
On Wednesday, shares closed at 93.46 pence, up 2.05% on the London Stock Exchange.
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