Inflation deterring shoppers from spending, especially in the US, says sportswear fashion chain
Sports fashion retailer JD has slashed its profit forecasts as cost-of-living pressures, fuelled by the US war on Iran, weighed on sales of trainers.
JD Sports, which sells a range of sports brands including Nike and Adidas, said widespread inflation had hit shoppers’ wallets, resulting in falling sales across important markets such as the US, where it struggled to quickly shift trainers and other footwear.
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This article was originally published by The Guardian and written by Kalyeena Makortoff.
Read original article on The Guardian