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Thursday, June 13, 2024
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    HomeBlogValue of JD Sports plummets by £1.8bn after profit warning

    Value of JD Sports plummets by £1.8bn after profit warning

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    ‘Mild weather and heavy discounting’ drag down pre-Christmas trade, with 23% wiped off shares

    More than £1.8bn has been wiped off the value of JD Sports after the fashion retailer issued a profit warning saying that mild weather and heavy discounting had affected sales before Christmas.

    Shares in the retail group, which owns Go Outdoors, Blacks, Millets and Size? as well as the JD chain, dived by 23% after the company said it did not expect to make more than £935m in annual profits, 10% below its previous guidance.

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    ​Business | The Guardian

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