JD Sports says Iran war and youth unemployment to hit consumer spending

JD does not expect an increase in sales this year, excluding the impact of acquisitions, after recording flat sales in the three months to the end of April. Photograph: Hollie Adams/Reuters

The sports fashion retailer JD has said that profits will fall this year amid a “muted market” hit by concerns about the Middle East conflict and weaker spending by young people facing rising unemployment.

The company, which runs 4,800 stores worldwide including the JD, Blacks and Millets chains in the UK, said it expected profits of between £750m and £850m in the year ahead, after reporting £852m in the year to the end of January.