9 months ago
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‘Mild weather and heavy discounting’ drag down pre-Christmas sales with 22% wiped off shares in early trading
More than £1.7bn was wiped off the value of JD Sports on Thursday morning after the fashion retailer issued a profit warning saying that mild weather and heavy discounting had affected sales before Christmas.
Shares in the retail group, which owns Go Outdoors, Blacks, Millets and Size? as well as the JD chain, dived by 22% to 122p to their lowest in a year, making it the biggest faller in the FTSE 100, after the company said it did not expect to make more than £935m in annual profits, 10% below its previous guidance.
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