GO Outdoors owner adjusts profit forecast

The owner of GO Outdoors – one of the UK’s largest suppliers of fishing tackle – has warned that its full year profit will be at the lower end of market expectations.

JD Sports Fashion reported what it described as a solid third quarter performance despite like-for-like revenue being down 1.7% across the globe. Sales from its Sporting Goods and Outdoor division, which includes GO Outdoors, was £373m with like-for-like store revenue down 0.3%. For the nine months to date, revenue was £1,073m – 0.1% down.

Regis Schultz, CEO of JD Sports Fashion, told investors: “We continued to make progress with our strategic objectives in the quarter against what remains a tough market backdrop. We are navigating a year of volatility in eternal factors with disciplined execution, reflected in a solid Q3. In the near term, as we enter an important trading period, we are mindful of weak macro and consumer indicators in our key markets.

“These lead us to take a pragmatic approach for our 2026 profit outturn. We remain confident in the overall positive trajectory for our industry and the JD Group over the medium term and this is reflected in our commitment to enhanced shareholder returns.”

GO Outdoors sells its fishing tackle through Fishing Republic, the brand it acquired out of administration back in January 2019. At the time, the publicly quoted business was the second largest fishing tackle and equipment retailer in the UK.

JD Sports expects underlying pre-tax profits to be under the market expectations which currently ranges between £853m and £888m.