JD Sports Fashion PLC (LSE:JD.) shares bounced 10% to 69.5p, rebounding from a five-year low as the sportswear retailer said profit for the past year was in line with previous guidance, though growth is expected to slow further in the year ahead.
On the downside, the FTSE 100-listed group, which is a key partner to US giant Nike, said it expects trading in its key markets to be "volatile throughout the year".
With the changes to US tariffs that started this week, including 104% on China and 40%-plus on other Asian nations that manufacture a lot of footwear and other sporting goods, JD said "the outcome of these developments is uncertain".
"We are in regular dialogue with our brand partners but it is too early to comment on the potential sector impact."
For the year to 1 February 2025, organic revenue growth came in at 5.8%, including 5.6% in the fourth quarter, with like-for-like revenue growth of 0.3% in Q4 and for the year as a whole. LFL growth was down 1.5% in the US and down 1.2% in the past quarter.
Profit before tax and adjusting items is expected to be within the previously guided range of £915-935 million.
The total number of stores at year-end was 4,850, including 1,485 stores acquired during the year, with JD saying it plans to open around 150 new stores and make 100 conversions or relocations in the 2026 financial year, along with 50 closures, mainly in Eastern Europe.
Revenue growth of around 10% is expected from acquisitions and 4% from new space, with LFL revenue expected to be below last year.
With capital expenditure expected to be approximately £500 million, JD said it anticipates remaining at a net cash position by the end of the current year, including a planned £100 million share buyback that was previously announced.
Recent weeks saw the shares sink to just over 61p, the lowest since the March 2020 pandemic lockdown.