JD Sports has issued its second profit warning in three months, citing weak sales in North America and ongoing struggles from key supplier Nike. The Bury-based retailer now expects profit before tax and adjusting items to fall between £700mn and £800mn for the year ending January, down from its previous forecast of £750mn to £850mn. Second-quarter like-for-like sales declined 3.1%, with shares dropping 10% in early trading.

North America saw the steepest regional drop of 6.8%, attributed to weaker consumer sentiment, a slowdown in high-demand footwear, and delayed back-to-school purchases. In May, JD had already warned that full-year earnings would fall short of the £852mn reported for 2025-26, as younger shoppers cut spending and Nike faces stagnant revenues.

Under CEO Régis Schultz, JD's share price has more than halved amid a cooling athleisure market. The company, once dubbed the "King of Trainers" under former CEO Peter Cowgill, saw modest growth in the UK (0.8%) and Asia-Pacific (1.4%) during the quarter. Nike reported a quarterly net income of $1.07bn in June, though annual profits were down 3%.