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UK sportswear retailer JD Sports has warned of volatile trading this year as tariffs hit its US customers and suppliers but said it expects profits to remain steady.
The retailer, which makes just under 40 per cent of its sales in the US, said in an update to investors that it expected profits of between £915mn and £935mn for the year to February 1, in line with previous guidance in January. Its shares initially rose 10 per cent on Wednesday.
Analysts’ consensus for profit before tax and adjustments for the financial year to February 2026 is £920mn, excluding the impact of tariffs on the business and on key suppliers such as Nike and Adidas.
The company added that it was too soon to assess the impact of the US tariffs, saying it expected “the trading environment in our key markets to be volatile throughout the year”.