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JD Sport Fashion (LSE:JD.) shares have crumbled 42% in value over the last year amid tough retail conditions. First-half financials on Wednesday (24 September) showed pre-tax profit before adjusting items down 13.5% in the 26 weeks to 2 August.
The 18% sales rise it enjoyed was down to new store openings and the acquisitions of Hibbert and Courir (in the US and France, respectively) the year before.
On a like-for-like basis, sales slumped 2.5% with turnover dropping across its regions. Worryingly, sales declines were especially severe in the US, JD Sports’ single largest market. Sales here dropped 3.8% from a like-for-like view.
The FTSE 100 retailer could face further turbulence as rising inflation and difficult economic conditions exacerbate consumer caution. Yet, some analysts believe JD Sports’ share price crash since last September could mark a compelling dip buying…
