JD Sports said it expects profits of between £750 million and £850 million in the year ahead, compared with the £852 million it reported in the year to the end of January. The retailer does not expect an increase in sales this year excluding the impact of acquisitions, after recording flat sales in the three months to the end of April.

Sales in the year to January rose 2.1% to £12.66 billion, with growth in Europe and the United States offsetting a 2.5% decline in the UK. Shares in JD Sports rose almost 3% on Thursday morning. Peel Hunt downgraded profit expectations for the company by 5% for the year ahead.

The company said cold and wet weather since the end of the financial year had dampened sales. It also said sales were likely to be affected by ongoing product cycle evolution at some of its major brand partners, particularly in footwear, a reference to problems at Nike.

JD Sports said: "Over time, the potential future impacts of heightened uncertainty may contribute to direct cost pressures, including energy and fuel costs across our store and logistics networks, respectively, as well as potential indirect impacts on pricing and consumer demand should input cost inflation emerge." The company operates a small number of stores in the Middle East through franchise agreements and said there had been no material business impact to date from the conflict in the region.

Chief executive Régis Schultz said: "While we continue to expect muted market growth in [2027], we remain confident in JD Group's medium-term trajectory, underpinned by our strong brand partnerships and agile, multibrand model."

JD Sports runs 4,800 stores worldwide, including the JD, Blacks and Millets chains in the UK, the Finish Line chain in the U.S. and the Sprinter chain in Spain. The retailer closed 24 outlets in the UK in the past year while increasing selling space in the country by 4%, and indicated it would continue shifting towards fewer larger stores. It also aims to use more automation and AI to improve the efficiency of its supply chain and product selection. JD Sports has partnerships with the boxer Anthony Joshua and the YouTuber Chunkz.