JD Sports Fashion (LON: JD) shares dipped at the open on Thursday before staging a recovery, climbing around 3.5% to approximately 70.32p, as investors digested the sportswear retailer’s full-year results for the 52 weeks to 31 January 2026.
The stock remains down roughly 16% year-to-date.
The initial sell-off reflected a mixed set of numbers. While total sales rose 10.5% to £12.7bn — boosted by the annualisation of its Hibbett and Courir acquisitions — underlying profitability came under pressure.
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Statutory pre-tax profit fell 12% to £629m, operating margins contracted by 120 basis points to 7%, and adjusted earnings per share slipped 5.5% to 11.71p.
The recovery was driven in part by brighter spots in the results. Free cash flow surged 36% to £462m, the group’s net cash position improved sharply to £311m from just £52m a year earlier, and management announced a 20% dividend increase alongside a rolling £200m annual share buyback programme — signals of confidence in future cash generation.
CEO Régis Schultz struck a cautious but measured tone, outlining plans to “control the controllables” through store optimisation, AI adoption, e-commerce re-platforming, and cost discipline. For FY27, the group guided for profit before tax and adjusting items of between £750m and £850m, with the wider-than-usual range reflecting macroeconomic uncertainty, including potential consumer headwinds from the Middle East conflict.
North America, which is JD’s largest region at nearly 40% of sales, showed encouraging signs, returning to like-for-like growth in Q4.
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