Latest news with #JD_Sports
Yahoo
4 days ago
- Entertainment
- Yahoo
Air raid sirens, surging crowds and Usain Bolt greet Trafford Centre's new JD Sports
Surging crowds, Usain Bolt, YouTubers, and air raid sirens heralded the opening of a new JD Sports store in the Trafford Centre. An enormous swell of over a 1,000 people gathered outside this morning (June 7). Many were young fans who had come to see the YouTube group Beta Squad who had been drafted in to open up the shop. Usain Bolt, whose 2009 record in the 150m set in Manchester still stands, was on hand to declare the new superstore open - which is now the largest JD Sports. READ MORE: LIVE updates as M60 drivers face long delays following serious crash which saw seven taken to hospital READ MORE: Fuelled by booze and cocaine, remorseless thug made women's lives miserable Join the Manchester Evening News WhatsApp group HERE A crowd was spread out all down the front of the shop, lining a race track which had been set out. Volunteers were selected from the crowd to run a relay down between Team Bolt and Team Beta Squad, with Team Bolt claiming victory. Excitement was rising, with the crowd screaming as Beta Squad ran up and down for high fives. Finally, after a countdown from 10, the crowd surged forward like a breaker roaring towards the shoreline, overwhelming staff who had been positioned to "drip feed" customers in. Every door to the enormous shop was opened, and those gathered outside moved forward as one. Any plan to let people in gradually appeared to disintegrate under the sheer force of the crowd with people at the front pushed forward by those behind. As the chaos unfolded the noise of an air raid siren began playing over the PA system, lending the feverish atmosphere an almost apocalyptic air. Fortunately, the cavernous shop appeared large enough to absorb the crowd's momentum, and they disappeared inside. Over a thousand people had gathered outside, and all of them piled into the shop in what felt like a matter of seconds. Families had come from across Greater Manchester and beyond, many of them taking the kids to see their favourite YouTubers. Mark Coker, 38, brought his daughter from Birkenhead. He said: "It was crowded. It was mad because they came round saying they would let people in a few at a time, but as soon as the store opens that was it, barriers down they pushed through." Dave Jones, 47, came from the Wirral with his daughter. He said: "My daughter was happy because she high-fived one of the Beta Squad." Steph Casey, 42, brought her son Joe Taylor, 15, to see Beta Squad. Joe said: "It was good, I was upstairs watching it. I wanted to see Beta Squad." Steph added: "His friends have been here since 6 this morning so they managed to get in." Some people also came to catch a glimpse of Olympic icon Usain Bolt. Sarah Shard, 40, had cycled from Droylsden. She said: "I came to see Usain Bolt, but I've just missed him! I cycled about nine miles!" James Air, JD's Director of Group Acquisitions, commented: 'This new store at Trafford Centre was a true statement of intent. It's our biggest, boldest space to date – and it happened in the city where our journey began. This is JD at its very best: fashion-forward, community-focused, and pushing the boundaries of retail.' Simon Layton, Centre Director at Trafford Centre, added: 'We were incredibly proud to welcome the world's largest JD to Trafford Centre. This flagship store is a game-changer, not just for Manchester but for the retail landscape. With immersive displays, expert staff and dynamic services, JD set a whole new standard for what an in-store experience should be.'
Irish Times
21-05-2025
- Business
- Irish Times
Irish stock market closes at fresh all-time high
Despite retail stocks weighing down the market, European stocks were little changed on Wednesday. General stocks gains limited the losses as investors reacted to changes in US taxation policies. The pan-European STOXX 600 closed slightly lower, down 0.8 per cent, as Dublin saw a marginal day of trading. Dublin While fallers outnumbered risers, the Iseq All-Share index ended the session slightly up 25.31 or 0.22 per cent from its previous close, at 11,399.48, its highest ever close. READ MORE There was a mixed performance in the banking sector. Bank of Ireland rose 0.89 per cent to €11.995, following on from a strong performance on Tuesday. Fellow banking stocks, Permanent TSB dropped 0.58 per cent and AIB Group fell 0.45 per cent. Defensive stocks also had a mixed day of trading. While Kerry Group added 0.67 per cent, rising to a share price of €97.35, fellow dairy giant Glanbia fell 0.24 per cent. Healthcare services group Uniphar saw a 1 per cent fall in its share price. Ryanair, which rose 5 per cent after publishing financial results on Monday, saw a third consecutive rise this week adding 0.63 per cent, reaching €23.85 per share. London The FTSE 100 was nearly flat with a 0.06 per cent gain, while the midcap FTSE 250 fell 0.7 per cent, as the inflation data triggered a slight wobble on the more domestically-focused index. Among blue-chips, sportswear retailer JD Sports' shares were the worst hit, dropping 10.6 per cent after it warned that President Donald Trump's tariffs may force the company to hike prices in the key market. SSE fell 2.4 per cent after the renewable energy generator cut its five-year investment plans by 15 per cent. Keeping losses in check, precious metal miners gained 3 per cent as gold prices rose for a third straight session and hit a one-week high. Fresnillo gained the most in the FTSE 100 with 4.2 per cent rise. Water utility Severn Trent shares gained 2.3 per cent after it projected a doubling of adjusted earnings per share between 2025 to 2028. Europe The European benchmark shed 0.8 per cent amid declines in luxury and retail stocks. JD Sports fell 10.6 per cent to the bottom of the STOXX 600 after posting a 2 per cent drop in first-quarter underlying sales and warned that higher prices in its key U.S. market could hit customer demand. LVMH, Hermes and Kering among others fell over 2 per cent after luxury group Chanel reported a 4.3 per cent drop in its comparable yearly sales. Tech shares helped to outweigh these losses, German chipmaker Infineon's 2.3 per cent gain after it said it would work with Nvidia to develop chips for new power delivery systems inside artificial intelligence data centres provided a boost to the sector. The STOXX 600, however, has recovered from its April slump, and is trading less than 3 per cent away from its all-time highs. An index tracking defence stocks was up 0.5 per cent after Trump selected a design for the $175 billion Golden Dome missile defence shield on Tuesday. Morgan Stanley raised its view on the European banking sector to 'attractive', citing better earnings potential from continued yield steepening. The European banks index is among the top performing sectors this year. Swiss bank Julius Baer slid 4.9 per cent after reporting a 130 million Swiss franc ($156.4 million) charge from a credit portfolio review and replacing its chief risk officer. New York In a volatile session on Wall Street, the S & P500 had slipped with Treasury yields rising in reaction to the US President Donald Trump's proposed tax-cut law during mid afternoon trading. Boosting the Nasdaq, Google-parent Alphabet recorded a jump, while Nvidia and Meta Platforms climbed saw stocks rise slightly. Nine of the 11 S&P sub-sectors traded lower, with Healthcare being the worst hit. UnitedHealth Group saw its shares fall, following a Guardian report said the healthcare conglomerate secretly paid nursing homes thousands in bonuses to help reduce hospital transfers for ailing residents. HSBC also downgraded the stock to 'reduce' from 'hold'. In earnings, retailer Target fell after slashing its annual forecast due to a pullback in discretionary spending. Wolfspeed had lost nearly 70 per cent during mid afternoon trading following a report that the semiconductor supplier was preparing to file for bankruptcy within weeks. Despite the losses, U.S. stocks have had a solid month so far. The S&P 500 has climbed more than 17 per cent from its April lows, when Trump's reciprocal tariffs roiled global markets. On the back of bitcoin recording a fresh all-time high of $109,481.83 (€96,460.61) during the session, exchange operator Coinbase gained alongside crypto miners such as Riot Platforms. – Additional reporting by Reuters.
The Independent
21-05-2025
- Business
- The Independent
FTSE 100 treads water after UK inflation jump
The UK's FTSE 100 edged higher on Wednesday in a mixed session for European stock markets, as new data showed UK inflation jumped to the highest level in more than a year. The blue chip index rose 5.34 points, or 0.06%, to close at 8,786.46, with miners helping offset heavy losses for retailer JD Sports. The FTSE 250 index, which is more UK-focused, fell 0.7% following higher-than-expected inflation figures from the Office for National Statistics (ONS). Consumer Prices Index (CPI) inflation leapt to 3.5% in April, up from 2.6% in March and the highest rate since January 2024, the ONS said. The sharp increase reflected a raft of bills rising at the start of the month, including gas and electricity and water bills. James Smith, developed markets economist for ING, said the data 'puts the final nail in the coffin of a Bank of England rate cut in June' which he said 'already looked highly unlikely'. 'More generally, surveys show that pricing power is ebbing away,' he said, adding that another interest rate cut in August was likely, 'and the quarterly pace of rate cuts can continue through this year and into 2026'. Meanwhile, it was a mixed session elsewhere in Europe, with Germany's Dax index climbing 0.34%, while France's Cac 40 fell 0.4%. In the US, losses extended for the nation's top indexes. The S&P 500 was down about 0.2%, and Dow Jones was falling by 0.8% by the time European markets closed. The pound was strengthening against the US dollar, rising 0.4%, at 1.345, and down around 0.1% against the euro, at 1.186. In company news, shares in FTSE 100-listed JD Sports tumbled by a tenth after the sportswear retailer revealed a drop in profits for the past year. The company said adjusted pre-tax profits dropped by 4% to £923 million for the year to February, largely due to investment in infrastructure and security. But it also flagged 'volatility' in the face of new US tariffs which are expected to potentially raise costs for its customers across the pond. Shares in JD closed 10.6% lower. Marks & Spencer said the damaging cyber attack which has halted orders on its website could cost the company around £300 million. But chief executive Stuart Machin said the incident was a 'bump in the road' and that the retailer would emerge in 'better shape'. The company reported a higher-than-expected adjusted pre-tax profit of £875.5 million for the year to March, a fifth higher than the previous year. Shares in M&S closed 2.7% higher. The biggest risers on the FTSE 100 were Fresnillo, up 44p to 1,085p, Babcock, up 30p to 890p, Endeavour Mining, up 60p to 2,162p, Phoenix Group, up 17p to 638.5p, and Severn Trent, up 62p to 2,775p. The biggest fallers on the FTSE 100 were JD Sports, down 9.86p to 83.12p, Spirax, down 160p to 5,860p, SSE, down 42.5p to 1,756p, Intercontinental Hotels Group, down 202p to 8,736p, and Smith & Nephew, down 23.5p to 1,080p.
Daily Mail
21-05-2025
- Business
- Daily Mail
JD Sports cautions price rises for US customers thanks to tariffs
JD Sports has warned that prices of some products and services for US customers could rise following recently imposed tariffs. The sporting goods retailer said visibility on the possible impact from tariffs was low, but short-term consumer demand in the US may be affected. President Donald Trump has put a 10 per cent baseline tariff on US goods imports, as well as a 30 per cent tax on products from China, where JD's third-party brands source a significant amount of their stock. JD has expanded considerably in North America over the past few years, acquiring brands like Finish Line, Shoe Palace, and Baltimore-based DTLR. Its takeover of Hibbett in July last year helped the company's turnover in the region soar by £890million to £4.2billion in the 12 months ending 1 February. By comparison, JD said its UK revenues declined by 3.7 per cent to around £2.7billion due to the disposal of non-core businesses and a 'challenging UK retail environment.' The Bury-based firm's total turnover still rose by 12 per cent to £11.4billion as higher European sales offset lower domestic trade and footwear orders jumped by almost £900million to £6.8billion. However, its pre-tax profits shrank by 11.8 per cent to £715million, mainly because of a £53million increase in adjusting items and investment in new stores and distribution centres. JD also revealed its like-for-like sales were 2 per cent lower year-on-year in the first quarter of this financial year amid subdued consumer confidence in North America. Yet organic revenues expanded across all territories, including the UK, where they rose by 2 per cent thanks to beneficial weather. Régis Schultz, chief executive of JD Sports Fashion, said: 'Overall trading in the first quarter of the new financial year has been in line with our expectations in a volatile market. 'Despite this volatility, and uncertainty surrounding the impact of US tariff changes, we look forward into the medium term with confidence that we can continue to outperform the market, improve our profit margin and create significant value for our shareholders.' JD Sports Fashion shares nonetheless slumped 9.9 per cent to 83.8p by late Wednesday afternoon, making them the FTSE 100's biggest faller. Soon after taking over, Schultz unveiled an ambitious strategy for the company to open between 250 and 350 stores each year in key markets. On a net basis, the group launched 223 new JD outlets last year, including ones in Westfield Stratford City, the Bluewater shopping centre in Kent, and on Paris's iconic Champs Élysées. Russ Mould, investment director at AJ Bell, remarked: 'JD has thrived on consumers' willingness to load up on the latest footwear, with many people viewing trainers and sneakers as collectables rather than functional items. 'It has also capitalised on the athleisure boom, selling a wide range of fitness clothing to the mass market. 'There is a risk both of these trends run out of steam or at least go through a temporary moment of weakness as individuals reassess their spending choices.'
