JD Sports cuts profit forecast, blaming big fashion price cuts
by Sarah Butler from World news | The Guardian on (#6THYF)
Stores beat online arm, in contrast to other listed fashion retailers, such as Marks & Spencer and Next
JD 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.
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