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JD Sports Shares Hit Two-Year Low Amid Weather and Election Impact

2024-11-21 12:47:30.067000

JD Sports has seen its shares drop to a two-year low, primarily due to adverse weather conditions and the impact of the recent U.S. election on consumer demand. The retailer announced that its profits will likely be at the lower end of its guidance, citing a 'much softer' market environment. JD Sports operates a total of 4,541 stores, which is an increase of 1,224 from the beginning of the year, including 1,179 stores acquired through its purchase of Hibbett. In the most recent quarter, the company opened 79 new stores globally, but the overall market challenges have raised concerns among investors. This decline in stock value reflects broader trends affecting retail, particularly in the sportswear sector, as companies navigate changing consumer behaviors post-election and during unpredictable weather patterns. [a4aa0862]

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