JD Sports: shares look attractive after a terrible start to 2024

JD Sports shares are the FTSE 100's worst performers of 2024 so far. A profit warning issued in the first week of the year sent the share price into a tailspin, touching the lowest levels since mid-2022.

After undoing 2023's rally entirely, we feel the company trades at an attractive valuation that doesn't represent its growth prospects in the medium term.

We first look at the reason for the selloff. After recording strong growth in Europe and North America, JD Sports set itself an ambitious profit before tax and adjusted items target of £1 billion for 2024FY.

JD Sports operates in ...

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