JD Sports Slashes Profit Forecast as FTSE 100 Giants Navigate Choppy Waters

JD Sports shares cratered over 10% after the FTSE 100 retailer slashed its full-year profit target to £700m-£800m, down from £750m-£850m, citing a brutal US slowdown and relentless discounting across the market. US sales tanked 6.8% in Q2 as cost-of-living pressures and the Iran conflict hit consumer sentiment, though UK operations managed a modest 0.8% uptick on the back of replica kit demand. CEO Régis Schultz admitted the promotional environment is...