JD Sports Fashion shares jump 7.35% and beat wider market
Updated
Updated · MarketWatch · May 7
JD Sports Fashion shares jump 7.35% and beat wider market
13 articles · Updated · MarketWatch · May 7
The stock closed at 73.00p on Thursday as the FTSE 100 fell 1.55% to 10,276.95, with trading volume reaching 46.2 million shares.
Despite the rally, JD Sports remains 31.25% below its 52-week high of £1.06 reached on 6 October, while volume far exceeded its 50-day average of 16.7 million.
Earlier, shares rose after the retailer reported 2.1% organic annual sales growth and lifted its dividend 20% to 1.20p, signalling progress despite weak demand and tough market conditions.
With profits squeezed and a recession looming, is JD Sports' dividend hike a sign of confidence or a risky gamble?
JD Sports bets on Gen Z and a Nike revival. In an economic downturn, is this a winning strategy or a fatal dependency?