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09.04.25 - 20:06
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Big brands vs retailers: who will absorb the tariff impact in their profit margins? | Nils Pratley (The Guardian)
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It may take at least six months for retailers like JD Sports to know the real-world effects of Trump's trade warfare“There are no tariffs on webcasts,” joked Régis Schultz, chief executive of JD Sports, as he opened the sportswear retailer's strategy update to the City.Unfortunately, that was the limit of his insights into the effects of Trumpian economic warfare on a business that likes to point out that its 2,500 state-side stores make it bigger in the US than local icon Footlocker. The boast sounded better before the US whacked 40%-plus tariffs on countries such as Vietnam and Cambodia, the manufacturing source of many of the trainers and “athleisure” apparel in the shops. Continue reading......
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14.01.25 - 10:48
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JD Sports cuts profit forecast, blaming big fashion price cuts (The Guardian)
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Stores beat online arm, in contrast to other listed fashion retailers, such as Marks & Spencer and NextBusiness live – latest updatesJD Sports has cut profit expectations for the second time in eight weeks, blaming heavy discounting across the fashion market.The retailer said it did not expect any growth in sales at established stores during the year and warned that annual profits would be no more than £935m, down from previous hopes of between £955m and £1.03bn. Continue reading......
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14.01.25 - 09:18
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JD Sports warns of lower profits; pound rises amid pressure on Reeves – business live (The Guardian)
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Sterling up slightly after falling to 14-month low amid worries over UK public financesGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.JD Sports, Britain's biggest sports retailer, has issued another profit warning, blaming heavy discounting across the fashion market, while the online grocer Ocado reported its best Christmas ever.A large portion of Russia's shadow tanker fleet has been sanctioned, making it more difficult for Russia and buyers to circumvent the G-7 price cap. These sanctions have the potential to take as much as 700,000 barrels per day of supply off the market, which would erase the surplus that we are expecting for this year.8.30am GMT: Bank of England deputy governor Sarah Breeden speaks on 'Financial stability and too big too fail' in Zurich2.30pm GMT: UK's business and trade committee questions Frasers, Evri, Deliveroo and Uniqlo on the impact of gig-economy style self-employment and zero-hours contracts2.30pm GMT: US pro...
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05.12.24 - 09:11
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UK retailer Frasers blames government budget as it cuts profit outlook (Reuters EN)
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UPDATE 1-UK retailer Frasers blames government budget as it cuts profit outlook Adds detail paragraphs 2 to 4 LONDON, Dec 5 (Reuters) - Major British retailer Frasers FRAS.L said a drop in consumer confidence sparked by the Labour government's tax hiking budget had forced it to lower its annual profit guidance. Formerly called Sports Direct and majority owned by Mike Ashley, the group on Thursday joined rival JD Sports Fashion JD.L in warning that recent trading conditions "have been tougher"....
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21.11.24 - 14:36
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JD Sports shares slump 14% after profit warning (The Guardian)
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Lower sales in UK and North America after mild weather and discounting by rivals offset by 3.5% rise in EuropeBusiness live – latest updatesMild weather and discounting by rivals hit sales at JD Sports in October, prompting the trainers and fashion retailer to issue a warning that profits will be at the lower end of expectations.The gloomy update sparked a sell-off among investors, sending shares down 14% and wiping about £800m off the value of the FTSE 100 company, which owns the JD chain as well as outdoor wear retailers Millets and Blacks in the UK and chains in the US and mainland Europe. Shares in its rival, the Sports Direct owner Frasers Group, also fell, by 2.5%. Continue reading......
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