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2024 is proving to be a truly miserable year for FTSE 100 share JD Sport Fashion (LSE:JD.).
On 4 January, JD got things off to a stinker with a shock profit warning that sent its share price tumbling. After a solid recovery, the retailer plunged again from late September, in part due to fallout from October’s UK Budget.
And it’s struck a fresh nadir for 2024 today (21 November), with another chilly trading statement sending its shares below 100p. At 96.5p, JD is down 15% in Thursday business, and 40% for the year to date.
I’m wondering though, if this year’s price collapse represents an attractive dip-buying opportunity for long-term investors like me. Let’s take a look.
Forecasts cut
More recently, JD’s been battered by a toxic mix of poor weather, higher promotional activity, and weak consumer spending ahead of the US presidential election.
At group level,…
