Business
Q4 2025/26 TRADING UPDATE
JD Sports Fashion PLC reported resilient peak trading for Q4 2025/26, with group organic sales growth of 1.4% and like-for-like sales of -1.8%, meeting full-year profit expectations. North America showed a positive like-for-like trend of +1.5% in Q4, while Europe and the UK experienced declines of -3.4% and -5.3% respectively. The company anticipates a full-year gross margin decrease of approximately 50 basis points year-on-year due to controlled price investments, but expects to generate free cash flow of around £400 million in FY26, having already completed £200 million in share buybacks. Strategic initiatives, including e-commerce platform roll-outs and supply chain automation, are progressing well. Disclaimer*
About this update from Jd Sports Fashion Plc
[{"type":"text","content":"\n\n \nQ4 2025/26 TRADING UPDATE\nResilient peak trading against a tough consumer backdrop;\nexpect full year profit in line with current market expectations\n \nSales performance by region:\n \n\n\n\n\n \n\n\nQ4 to-date: 9 weeks to 3 January\n\n\nYTD: 48 weeks to 3 January\n\n\n\n\nLike-for-like(1)\n\n\nOrganic(1)\n\n\nLike-for-like(1)\n\n\nOrganic(1)\n\n\n\n\nNorth America*\n\n\n+1.5%\n\n\n+5.3%\n\n\n(1.5)%\n\n\n+3.6%\n\n\n\n\nEurope\n\n\n(3.4)%\n\n\n+0.9%\n\n\n(1.5)%\n\n\n+4.0%\n\n\n\n\nUK\n\n\n(5.3)%\n\n\n(4.8)%\n\n\n(4.0)%\n\n\n(2.7)%\n\n\n\n\nAsia Pacific\n\n\n+2.8%\n\n\n+9.6%\n\n\n+0.5%\n\n\n+8.7%\n\n\n\n\nGroup\n\n\n(1.8)%\n\n\n+1.4%\n\n\n(2.1)%\n\n\n+2.2%\n\n\n\n\n* North America excluding Finish Line LFL sales: Q4 to-date: +4.1% and YTD: +1.6%. Refer to appendix 1 for sales by segment\nHeadlines:\n· Group Q4 to-date organic sales growth +1.4%. Like-for-like (LFL) sales of -1.8%, in line with Q3 (Q3: -1.7%)\n· Improved LFL sales trend in our largest market, North America (vs Q3: -1.7%); offset by weaker LFL trends in Europe and the UK (vs Q3: -1.1% and -3.3% respectively)\n· Continued resilience in apparel sales reflecting strength of product range; softness in footwear as expected given end-of-cycle product line headwinds, despite positive momentum in running\n· Maintaining trading disciplines, with controlled price investments in the period (particularly in online) to stay connected with consumer dynamics and support volumes. Anticipate FY26 gross margin % for the Group to be c.50bps lower YoY\n· Staying focused on delivery against strategic objectives; roll-out of new e-commerce platforms in Europe and UK set to commence in 2026 following successful implementations in the US and Italy, and automation ramping up at Heerlen distribution centre for JD Europe store replenishment\n· Costs and cash being well controlled, with US integration synergies continuing to flow through\n· Expect FY26 profit before tax and adjusting items (PBTAI) to be in line with current market expectations(2,3)\n· On track to generate free cash flow of c.£400m in FY26; completed £2...