JD Sports (LON:JD) jumped more than 5% at the London open on Wednesday after unveiling a new £100 million share buyback, though the stock later pared gains.
At the time of writing, shares were up 4% at 97.77p, leaving them ahead 2.3% so far in 2025.
The retailer reported a 3% fall in like-for-like sales to £3.11 billion for the 13 weeks to 2 August, with declines across North America, Europe and the UK. Asia Pacific was the only region to edge higher. On an organic basis, sales rose 2.2%, lifted by growth in North America, Europe and Asia Pacific, while the UK lagged with a 4.5% drop.
Chief Executive Regis Schultz said consumers were proving “resilient, albeit very selective,” and flagged caution heading into the second half. Footwear sales softened as key lines reached the end of their cycle, while apparel held up better.
Despite the sluggish quarter, JD stuck to its full-year profit outlook of around £885 million before adjustments, within the current market range of £852 million to £915 million.
Schultz said returning surplus cash via buybacks remained compelling at current share levels, adding confidence in medium-term prospects, particularly in North America and Europe. The new buyback follows the completion of a £100 million programme in July.