Too mild for fleeces? There’s more to JD Sports’ profit warning than that

When the retail price of the latest ‘essential’ variation on an old line of Nike trainers is £175, would-be buyers may conclude a purchase is inessential. Photograph: Bloomberg/Getty Images

This year’s award for the first shopkeeper to cite the weather in its Christmas profits warning goes to JD Sports. Specifically, the group didn’t care for how mild it has been – not good for shifting fleeces – although the same temperatures didn’t seem to bother Next, which turned in its usual upgrades to forecasts.

So the story probably lies in the other factors mentioned by JD. The group blamed “more cautious consumer spending” and “an elevated level of promotional activity during the peak trading period”. Possible translation: more and more punters think the entire ‘athleisure’ industry – from big brands such as Nike and Adidas, to the likes of JD itself – had elevated prices to silly levels.