JD Sports cuts £50m from profit forecast as war in Iran affects sales of trainers

Inflation fuelled by conflict deterring shoppers from spending, especially in the US, says high street chain The sports fashion retailer JD has cut £50m from its profit forecast as cost-of-living pressures, fuelled by the US war on Iran, weighed on sales of trainers. JD Sports, which sells brands including Nike and Adidas, said widespread inflation had hit shoppers’ wallets, particularly its core young shoppers, resulting in a drop in sales across important markets such as the US, where it…