Published 1h ago2026-09-23 07:10:43

JD Sports Shares Slip as 'Tough' Consumer Backdrop Weighs on Fiscal First-half Sales

JD Sports Fashion (JD.L) shares dropped 3% in Wednesday midday trading as the company booked lower sales in its fiscal first half amid a tough global consumer backdrop and cost-of-living pressures.

The UK-based sports fashion and outdoor brands retailer said Wednesday that sales for the 26 weeks ended Aug. 1, 2026, stood at 5.90 billion pounds sterling, compared with 5.94 billion pounds in the year-ago period.

"Consumer cost-of-living pressures weighed on our core demographic throughout the half, footwear product cycle dynamics remained a headwind across our key markets, and the market stayed highly promotional. These conditions were most acute in North America in Q227, where a slower quarter for high-heat footwear product compounded the underlying consumer environment," according to Chief Executive Officer Régis Schultz. "Overall, Group organic sales were -0.7% in HY27, a resilient outcome in the context of the challenging conditions facing our industry."

Profit before tax and adjusting items fell over the period to 282 million pounds from 351 million pounds. Profit attributable to equity holders of the parent, on the other hand, climbed to 167 million pounds from 41 million pounds.

In terms of shareholder returns, the board declared an interim dividend of 0.004 pound per share for the period, higher than the year-ago 0.0033 pound per share. The second 100 million-pound tranche of JD Sports' share buyback program commenced earlier in August and is expected to complete by the end of fiscal 2027.

Looking ahead, the company continues to expect profit before tax and adjusting items to come in between 700 million pounds and 800 million pounds for fiscal 2027.

"We continue to believe that the markets in which we operate are positioned for average annual medium-term growth of 2-3%. In the near term, however, a number of the headwinds seen in HY27 may persist into H2: a weaker spending environment for our core customer demographic, ongoing product cycle evolution in footwear at some of our major brand partners, and a promotional market backdrop," the group noted.

What else is happening in US Markets?

US Markets11h ago

Australian Private Sector Growth Hits Three-Month Low Amid Weakness in Manufacturing

Australia's private sector posted only moderate expansion in September as a fresh decline in export business curtailed growth in overall new orders.The headline seasonally adjusted S&P Global Flash Australia PMI Composite Output Index fell to 50.8 in September from 52.7 in the previous month, the index provider said Wednesday.While the latest reading is above the 50 mark that separates expansion from contraction, it also marks the weakest growth rate across the third quarter, driven by softer demand particularly in the manufacturing space.The overall volume of new business improved for a third straight month, although the September pace of expansion was the slowest in this period, held back by a renewed decline in new manufacturing orders. At the same time, new export orders slid for the fifth time in six months, also due to weakness in manufacturing, S&P Global said.The Flash Australia Manufacturing PMI reading fell to 49.3 in September from 52 in August, while the Flash Australia Manufacturing PMI Output Index retreated further into contraction territory at 46.4, down from 49.6.Services was a key growth engine, but even in this sector, the upturn was less pronounced as the Flash Australia Services PMI Business Activity Index fell to 51.4 from 53.2 in August.There was more bitter news on the price front, as the rate of input price inflation moved up to its highest level in three months, and the rise in output charges was more pronounced than in August.The results coincide with business confidence deteriorating to its weakest in three months, falling further below the series average in September amid concerns related to cost pressures, market demand, and customer retention. This led to a reduction in private sector employment across Australia for the first time since May.

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US Markets15h ago

Update: Nasdaq Composite Hits New Peak as Oil Retreats

(Updates with market moves at the end of the day, and other changes, if any.)The Nasdaq Composite advanced to a fresh all-time high on Tuesday, while oil prices dipped after President Donald Trump said the US held talks with Iran.The Nasdaq rose 0.5% to 27,244.28, recording a new closing high for the second day in a row. The Dow Jones Industrial Average fell 0.4% to 51,863.69, while the S&P 500 ended little changed at 7,764.64. Among sectors, materials paced the gainers, while financials led the laggards.West Texas Intermediate crude oil was down 2.7% at $89.84 a barrel in Tuesday late-afternoon trade. Brent dropped 2% to $98.35. Both benchmarks were on track for their fifth consecutive day of declines.Trump said that members of his administration had "a very good meeting" with an Iranian delegation to the UN General Assembly in New York on Tuesday, multiple news outlets reported. The talks lasted three hours.Iran has offered to reopen the crucial Strait of Hormuz within seven days if the US eases its military pressure, Reuters and Japan's Kyodo News reported, citing a senior Iranian government official.A senior Iranian official told MS Now, CNBC's Versant Media partner, that the Reuters and Kyodo reports were not true.Saudi Arabia has restarted operations at its East-West pipeline following recent drone attacks, Reuters reported Tuesday, citing sources. The pipeline could resume exports from the Yanbu port later Tuesday.Treasury yields were lower, with the 10-year rate down 0.8 basis point at 4.96% and the two-year rate falling 1.2 basis points to 4.74%.Inflationary pressures from tariffs and the Middle East conflict may persist for a while before their impact fades, Richmond Fed President Tom Barkin said Tuesday.Prices have been above the Federal Reserve's 2% goal for more than five years now, making inflation as "our troublemaker," Barkin said in remarks for an event in Baltimore.The Fed's next interest rate increase could come as early as October as higher oil prices threaten to push inflation farther away from the US central bank's 2% goal, Oxford Economics said.In company news, On Holding's (ONON) US-listed shares climbed 7.6% after the Swiss sportswear company outlined its mid-term financial targets and reiterated its outlook for 2026.AutoZone (AZO) reported fiscal fourth-quarter revenue and same-store sales growth below market expectations on Tuesday amid a challenging environment, although the auto parts retailer's earnings topped estimates. The stock rose 3.3%.Spot gold edged up 0.4% to $4,361.38 per troy ounce, while silver jumped 2% to $67.76 per ounce.

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US Markets15h ago

Kinder Morgan Poised to Benefit From Higher Commodity Prices, RBC Says

Kinder Morgan's (KMI) third-quarter core earnings should get a boost from favorable commodity prices, RBC Capital Markets said in a note Tuesday.The brokerage raised the energy infrastructure company's adjusted earnings before interest, taxes, depreciation and amortization forecast to $2.13 billion from $2.08 billion. Kinder Morgan is scheduled to report third-quarter results on Oct. 21.RBC pegged West Texas Intermediate crude prices at $84.50 per barrel in the third quarter so far, up from the prior $84 estimate. Kinder Morgan's carbon dioxide segment includes oil and gas production, though 90% of its oil output s hedged, RBC analyst Elvira Scotto said."We believe (Kinder Morgan) enters (third-quarter) with strong momentum driven by commodity price tailwinds and operational execution," Scotto said.The brokerage raised its price target on Kinder Morgan's stock to $36 from $35 and reiterated its sector perform rating.In August, Kinder Morgan partnered with Phillips 66 (PSX) and HF Sinclair (DINO) on Western Gateway, a $5 billion, 1,300-mile pipeline system expected to be completed in 2029.The company owns a 35.1% stake in Western Gateway and is contributing $1.5 billion in assets, along with $250 million in cash. "Western Gateway adds $300 (million) to the backlog with mid-teens unlevered after-tax returns," Scotto said.RBC expects Kinder Morgan's backlog to grow by an additional $400 million in the near term.The company's shares fell 1.4% on Tuesday, but have gained nearly 14% this year.In August, natural gas distributor Williams (WMB) reported second-quarter earnings in line with Wall Street's estimates and topped sales expectations.

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