"JD Sports Issues Profit Warning Amid Sales Slump and Consumer Spending Concerns"
JD Sports Fashion, a UK-based athletic apparel retailer, saw its shares drop by 22% after cutting its full-year profit guidance due to weaker-than-expected sales in a key trading period. The company cited mild weather and cautious consumer spending for the downturn, which follows a similar profit warning from Nike. Despite the slump, JD Sports is continuing with its expansion plans, having opened 200 new stores this year. Other sportswear brands like Puma and Adidas also experienced a decline in share prices, while clothing retailer Next reported an increase in guidance, indicating a mixed picture for the UK retail sector.