JD Sports' second profit warning in three months has a US-shaped hole

North American like-for-like sales fell 6.8% in the thirteen weeks to August 1, wrecking a region that supplies roughly 40% of group revenue and forcing JD to cut its profit guidance range to £700 million to £800 million from £750 million to £850 million, as Reuters detailed. Shares fell close to 15% on the day, the stock's worst single session in about nine months. The company blames weak US consumer sentiment, brutal discounting on sneakers, and back-to-school demand sliding from July into August. UK sales actually grew 0.8%. Two warnings inside three months from the self-styled King of Trainers says the US sneaker cycle has turned, and JD built its growth story on exactly that market.