Britain's JD Sports backs Nike strategy, says relationship good

James Davey

Wed, Apr 9, 2025, 9:40 AM 2 min read

By James Davey

LONDON (Reuters) - British sportswear retailer JD Sports, 1 of Nike's largest customers, said connected Wednesday it felt "really good" astir the absorption of the marque and their narration contempt trading and tariff challenges.

Shares successful Nike, based successful Beaverton, Oregon, person slumped 42% implicit the past year, initially owed to anemic trading successful the look of intensifying contention and much precocious the deed from U.S. President Donald Trump's imposition of caller tariffs.

Nike products relationship for astir 45% of JD's sales. With astir 40% of JD's income made successful the U.S., the radical is besides exposed to the tariffs. JD's shares are down 45% implicit the past year.

Despite these challenges, Mike Armstrong, JD's planetary managing director, gave a ballot of assurance to Nike and its caller CEO Elliott Hill's strategy to enactment the institution backmost connected way by refocusing its concern connected athletics and selling much items astatine premium price.

"We're precise overmuch aboriginal into Elliott's tenure successful the concern and we've nary crushed to suggest doing thing otherwise from what Elliott suggested," Armstrong told analysts and investors astatine a strategy presentation.

"Generally, we consciousness truly bully astir the absorption the brand's headed, we're seeing greenish shoots successful the men's concern successful Europe peculiarly which is truly encouraging and we're moving truly intimately with those guys to get it backmost connected way successful each marketplace that we run in," helium said.

Armstrong added that helium was definite Nike and JD tin get their concern "back (to) afloat velocity soon".

Earlier connected Wednesday, JD forecast small oregon nary nett maturation this year, adjacent earlier immoderate imaginable interaction from U.S. tariffs, with the trading situation successful its cardinal markets expected to beryllium "volatile".

CEO Regis Schultz told analysts and investors the steadfast was inactive "digesting" the tariffs.

"We are looking astatine it, it's a precise superior matter, we are moving connected it," helium said, adding the institution could not yet supply guidance connected their impact.

(Reporting by James Davey, editing by Ed Osmond)