JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) kept its full-year profit guidance unchanged as it reported mixed sales during the peak Christmas period, where it was forced into price investments in what it called a volatile consumer backdrop.
The retailer posted organic sales growth of 1.4% for the nine weeks to 3 January 2026, while like-for-like sales declined 1.8%, slightly worse than the 1.7% decline in LFL sales in the third quarter.
Sales were mixed across regions, with a notable improvement in North America, now the UK group's largest market, where LFL sales returned to growth at 1.5%, compared to a regional decline of 1.7% in Q3.
This helped offset weaker performance in the UK and Europe, which saw LFL declines of 5.3% and 3.4% respectively.
Gross margins are expected to be around 50 basis points lower year-on-year due to efforts to keep prices down and stimulate demand in the festive season, particularly online.
Chief executive Régis Schultz said: “Overall sales during the peak period were in line with our expectations, against a volatile consumer backdrop.
"Black Friday saw strong customer engagement across all regions, but demand softened in the first half of December, particularly in Europe and the UK.
"We responded decisively in the final weeks of the period by choosing to make targeted price investments, and we saw improved sales in the immediate run-up to Christmas Day and the period after, demonstrating the strong customer appeal of JD and its complementary fascias, in a challenging market."
He also highlighted strong cash and cost control, and confirmed the business is on track to generate free cash flow of around £400 million this year.