JD Sports cuts profit forecast as trainer market stays tepid
JD Sports has lowered its annual profit guidance by £50m, blaming weak demand for new trainer designs from Nike and Adidas and persistent cost-of-living pressures, particularly in the US.
JD Sports has cut its annual profit forecast by £50m after a weaker-than-expected quarter, with the retailer pointing to a lack of exciting new trainer designs from the industry’s biggest brands and ongoing cost-of-living pressures. The company, which styles itself as the “king of trainers”, said sales of “high-heat footwear product” had slowed, a phrase that City analysts took to mean that Nike and Adidas, which together account for slightly more than half of JD’s revenue, have failed to deliver the kind of blockbuster launches that typically drive demand.
The warning marks the latest in a series of profit alerts from the sportswear chain and is particularly disappointing given that 2026 is a World Cup year, a period that would normally be expected to give the global business a sporty buzz. Instead, JD said it had experienced a slower quarter for premium footwear, with consumers showing less appetite for full-price purchases and retailers forced to rely on discounting to shift stock.
The company’s statement repeated a familiar refrain about “incremental cost of living pressures”, especially in the United States, where household budgets remain stretched. The phrase “a promotional market” has also appeared consistently in JD’s updates over the past two years, underlining how deeply the discounting cycle has become embedded in the sportswear sector. Analysts noted that when Nike and Adidas are on tepid form, JD Sports usually follows, given its heavy reliance on those two brands.
The profit warning comes at a delicate time for the retailer, which has been working to reposition itself as a premium destination for sneaker culture while also expanding its global footprint. The company has invested heavily in store formats, digital platforms and exclusive product collaborations, but the latest update suggests that even those efforts are not enough to offset a broader slowdown in consumer spending on discretionary items such as high-end trainers.
Investors reacted negatively to the news, with shares coming under pressure in early trading. The downgrade also raises questions about whether the company’s growth strategy needs adjustment, particularly in the US market, where competition from rivals such as Foot Locker and Dick’s Sporting Goods remains intense. JD has previously highlighted the US as a key growth area, but the latest figures suggest that the market is proving more challenging than expected.
Industry observers point out that the sportswear sector as a whole has been grappling with a post-pandemic normalisation, after years of exceptional growth driven by athleisure trends and a surge in casual footwear demand. That boom has now faded, leaving retailers with excess inventory and consumers who are more selective about what they buy. The situation has been compounded by rising interest rates and inflation, which have reduced the amount of disposable income available for non-essential purchases.
For JD Sports, the immediate priority will be to manage its inventory levels and avoid being drawn into a deeper price war with competitors. The company has said it remains confident in its long-term strategy, but the repeated profit warnings suggest that the road to recovery may be longer than previously anticipated. Analysts will be watching closely to see whether the company can regain momentum in the second half of the year, particularly if Nike and Adidas manage to deliver more compelling product launches.
The broader implications for the sportswear market are significant. If consumer demand for premium trainers remains weak, other retailers could follow JD’s lead in revising their forecasts. Suppliers and manufacturers may also feel the impact, as order books for new designs are likely to be scaled back. The coming months will be crucial in determining whether the current slowdown is a temporary blip or a more lasting shift in consumer behaviour.
