JD Sports – which is one of the UK’s biggest sports retailers – has confirmed it will be closing around 50 stores next year.
Confirming the news in a statement in a business update published on April 9, the high street retailer said the shake-up will also include 150 new openings and 100 relocation’s and conversions. JD Sports has 4,800 stores across 36 countries, including 412 in the UK.
The closures are not expected to impact the UK with the JD Sports noting that the move will mainly affect branches in Eastern Europe. The statement read: “We anticipate c.150 new stores and c.100 conversions/relocations in the year. There will also be c.50 closures, mainly in Eastern Europe”.
The retailer also warned of “volatile” trading conditions in the year ahead as it continues to face “challenging” markets. However, it noted that its profits and sales had met forecasts for the past year, but shares in the company have dropped in recent weeks.
The statement continued: “We expect the trading environment in our key markets to be volatile throughout the year and we have started the year in line with our expectations. We note the proposed changes to tariffs announced last week. At this stage, 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 52 weeks to February, 1 2025, the sportswear giant reported a 5.8% organic sales growth, slightly ahead of guidance, with profit before tax and adjusting items falling within the range of £915million to £935million.
British Retail Consortium (BRC) chairman Andrew Higginson warned that if US President Donald Trump’s tariffs remain at their current levels, prices are likely to increase.
For all you savvy savers and bargain hunters out there, there’s a golden opportunity to stretch your pounds further. The Money Saving Club newsletter, a favourite among thousands who thrive on catching the best deals, is stepping up its game.
Simply follow the link and select one or more of the following topics to get all the latest deals and advice on: Travel; Property; Pets, family and home; Personal finance; Shopping and discounts; Utilities.
Speaking on the Today programme, Higginson commented that it’s “unlikely” shoe production will shift to the US, but noted the outcome “depends on how high the tariffs are and for how long.”
JD Sports, which sources much of its goods from Asia, has been affected by concerns over the impact of U.S. tariffs on imported products, especially those made in countries like China and Vietnam.
On the trading update, JD Sports CEO Régis Schultz said: “We have delivered a solid performance in a challenging market, with organic revenue growth of 5.8% for the year. This reflects the continued strength of our multi-channel consumer proposition and our growing international footprint.
“We remain focused on profitable growth and maintaining trading discipline, despite an environment that remains promotional and unpredictable in key markets. As we enter FY26, we do so with momentum in our core regions and a clear plan to unlock further scale and efficiency across the business.”
WHATSAPP GROUP: Get money news and top deals straight to your phone by joining our Money WhatsApp group here. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice.
NEWSLETTER: Or sign up to the Mirror’s Money newsletter here for all the best advice and shopping deals straight to your inbox.
Get our money-saving tips and top offers direct to your inbox with the Mirror Money newsletter