0856 GMT - JD Sports' strategy not to engage in promotions during the last part of the year and protect its gross margins appears to have backfired, Richard Hunter, head of markets at interactive investor, says. The most promising opportunity for the U.K. sportswear-fashion retailer is its growing presence in the U.S. market, where it recently acquired retailer Hibbett, he notes. This acquisition should make JD Sports' brand more known in the country, Hunter says. "It remains to be seen whether the market consensus of the shares as a buy remains intact following this latest disappointment," he says. Shares are down 10.7%. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 03:56 ET (08:56 GMT)
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