JD Sports Fashion has reported organic growth of 2.1% for the year ending 31 January 2026, with revenue increasing 10.5% year on year to £12.6 billion. North America is now JD’s largest region, accounting for nearly 40% of sales, with strong online growth (+12.2%), while Europe was softer (+3.8%), albeit supported by ongoing omnichannel improvements. CEO Régis Schultz described the performance as “resilient” despite tough trading conditions.
The group is also returning more cash to investors, increasing its dividend and announcing a £200 million share buyback, underpinned by strong free cash flow generation.
However, reflecting a challenging consumer backdrop, the retailer has widened its guidance for the year ahead, forecasting pre-tax profit of £750 million–£850 million, slightly below the £852 million reported for FY26. Schultz stressed confidence in the group’s medium-term trajectory, highlighting continued focus on product, customer experience, store optimisation, and cost discipline, alongside commitments to stronger cash returns to shareholders.
Despite this, investor sentiment remains cautious. As Chris Beauchamp, Chief Market Analyst at IG, put it, “JD Sports might be keen to splash the cash on shareholders but the muted guidance for the year ahead means that the market has struggled to see a rationale for buying the shares even at their current depressed level and bargain-basement valuation. A more compelling turnaround in trading is still missing, and as such the shares may continue to edge lower.”
Investment bank Peel Hunt described the downgrade as “sensible”, noting that JD is “doing all the right things” in a difficult retail environment, and arguing that the stock remains undervalued despite near-term uncertainty.
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