Major UK sports brand JD Sports has confirmed the closure of 24 stores across the country, delivering another blow to the struggling high street. The retailer cited rising energy and fuel costs linked to the Iran conflict as potential pressures on consumer spending.
Store Closure Strategy
The chain, which operates locations including in Birmingham, has shut two dozen stores over the past year as part of a plan to run 'fewer, bigger, better' outlets. JD Sports currently runs around 4,811 stores worldwide.
Financial Performance
For the financial year ending January 2026, the company reported annual pre-tax profits of £852 million. However, JD warned that profits would decline this year amid a 'muted market' affected by the Middle East conflict and weaker spending among young people facing rising unemployment.
CEO Comments
Régis Schultz, the retail group’s chief executive, noted that the core youth market has been hit by rising unemployment. He said: 'Those 10-30 hour contracts they do allow them to buy the sneakers they would love to have.'
Impact of Iran Conflict
JD stated there had been 'no material business impact to date' from the war in Iran, but warned that the conflict could eventually push up costs and prices. The company said: 'Over time, the potential future impacts of heightened uncertainty may contribute to direct cost pressures, including energy and fuel costs across our store and logistics networks, respectively, as well as potential indirect impacts on pricing and consumer demand should input cost inflation emerge.'
Pricing and Sales Outlook
Despite these pressures, Schultz said JD had no intention of raising prices, as 'we don't believe the market and the consumer is ready for price increases. There is not enough heat in the market.' JD also reported that cold and wet weather since the end of the financial year had dampened sales, with April trading described as 'volatile'. Sales are expected to be affected by 'ongoing product cycle evolution at some of our major brand partners, particularly in footwear.'
