The US war on Iran has fueled cost-of-living pressures that have hit trainer sales, prompting JD Sports to cut its profit forecast. This was reported by infohub.kz.

JD Sports, which sells sports brands such as Nike and Adidas, said widespread inflation had hit shoppers' wallets, leading to falling sales in key markets like the US, where it struggled to shift trainers and other footwear quickly. The company faced difficulties in selling trainers and other shoes fast.

Management warned that the overall decline in consumer spending could continue into the second half of the year, leading to lower-than-expected profits. The sports retailer now expects pre-tax profits of between £700 million and £800 million for the full year, having previously hoped to reach £750 million to £850 million.

The news led to a 12% drop in the company's shares on the London Stock Exchange, falling on Thursday morning to their lowest level since July.

Chief Executive Regis Schultz said: "Trading in the second quarter remained tough." He explained that the company had been forced to cut prices and offer promotional sales because "our core consumer was impacted by incremental cost-of-living pressures."

The company, which runs 4,800 stores worldwide including the JD, Blacks, and Millets chains in the UK, said pressures included higher fuel prices, which have been pushed up by the US-Israeli war on Iran that has effectively stopped tanker traffic through the Strait of Hormuz.

Overall, JD said like-for-like sales fell by 3.1% in the second quarter, with its North America operations taking the biggest hit, falling by 6.8%. Sales across Europe tumbled by 2.7% during the same period.

The UK was a rare bright spot, as World Cup excitement drove sales of football replica kits, while consumers bought more outdoor gear, including from its high street brands Blacks and Go Outdoors.

Susannah Streeter, chief investment strategist at investment firm Wealth Club, said: "JD Sports is offering another glimpse of the darkening clouds gathering over the US economy, with American shoppers looking considerably more cautious."

"The sneaker is fast becoming a canary in the coal mine for confidence," she said. "More consumers are resisting the lure of hyped brands, which is not surprising when the jobs market is weakening and inflation is still such a concern. Consumers may still be spending, but they are becoming more selective about discretionary purchases, particularly when household budgets are already under pressure."