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It has been a difficult week for JD Sports (LSE: JD). Having issued a profit warning barely two months ago, it issued another one this week.
Predictably – and perhaps rightly – the stock market did not like that and marked the share down sharply. It has fallen 45% since September.
Although the business continues to expect large profits for its current financial year, the shifting goalposts when it comes to expectations do not instil confidence in its management.
That said, the chief executive dipped into his own pocket this week to the tune of £99,000 buying shares in the company after they nosedived following the profit warning.
I also added to my existing shareholding after the profit warning. That is because I think the sports retailer’s share should be able to recover from this latest setback. Yes, it may take some time, but I am a long-term investor.
