JD Sports cautioned that full-year earnings will fall as JD Sports warned fashion-conscious Gen Z and millennial shoppers tighten belts amid muted market growth. Profit before tax and adjusting items is seen at £750mn to £850mn, down from £852mn, reflecting weaker spending outlooks and product shifts among key brand partners as the Bury-based group steadies after recent boardroom turbulence.

A 2.3 per cent first-quarter like-for-like decline exposed soft trading in Europe and the US against a £200mn annual share buyback intended to lift returns even as Nike struggles with a multiyear turnaround. New running and fashion rivals including On and Hoka have chipped at the US sportswear giant, while luxury labels such as Miu Miu and Loewe court younger buyers keen on high-end trainers.

Revenue for the year to January 31 climbed 11.7 per cent to £12.6bn and free cash flow jumped 36.3 per cent, yet pre-tax profits fell 7.7 per cent to £852mn in line with forecasts. The group will sharpen its range and favor fewer, bigger, better UK stores while pruning underperforming sites in central and eastern Europe and North America as Nike dependence lingers near 40 per cent of sales.