Susannah Streeter, chief investment strategist at Wealth Club, says inflation is having a big impact in the US.
She 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.
“Like-for-like sales fell by 6.8 per cent in North America, which accounts for 35 per cent of JD sales, with weaker demand for the latest must-have footwear.
“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.”
The World Cup boosted JD Sports in the UK with a demand for replica kits after England and Scotland’s participation in the tournament.
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