JD Sports saw sales weaken further this summer as the sports fashion flagged 'continued strains' on customer budgets. 

The group saw sales across Britain fall 6.1 per cent to £806million on a like-for-like basis in the quarter to 2 August. 

JD Sports said it was impacted by 'tough comparatives' from a year ago, when the  Euro 2024 football tournament took place. 

And the firm warned it was 'cautious given the continued strains on consumer finances, unemployment risk, and the ongoing shift in the footwear product cycle'.

However, like-for-like sales across North America slipped 2.3 per cent, representing an improvement on the previous quarter and beating expectations.

The FTSE 100-listed group reiterated guidance for annual pre-tax profits of around £885million, with a range of £852million to £915million. 

And shares rose on Wednesday as JD Sports revealed fresh shareholder payouts.  

The business announced a new £100million share buyback programme, which it said reflected confidence in medium-term industry growth and its market share gains. 

JD Sports' board said the share buyback programme 'represents a compelling return on equity given JD’s current share price levels'. The new buyback follows another recently-completed £100million buyback. 

JD Sports shares rose 4.66 per cent or 4.38p to 98.40p on Wednesday, having fallen more than 30 per cent in the last year. The group's share price has fallen by more than half since its 2021 peak. 

The retailer said it would 'continue to monitor' the 'ever-changing landscape' around tariffs, providing a further update in its half-year results on 24 September.

Chief executive Régis Schultz, said: 'We are making strong progress in developing our omnichannel customer proposition, store footprint and supply chain, and we are controlling our costs and cash effectively.

'In general we see a resilient consumer, albeit very selective on their purchases.

'We are well placed to continue growing our market share in the key growth regions of North America and Europe, and confident about the medium-term growth prospects for our industry.'

Victoria Scholar, head of investment at Interactive Investor, said: 'Trade uncertainty, pressure on consumer finances, rising unemployment and struggles at Nike are among the headwinds facing JD Sports. 

'Nonetheless, in the face of an unpleasant cocktail of pressures, JD Sports has managed to deliver a pickup in its US market with an improving sales trajectory which provides a source of optimism for investors.'

She added: 'Shares are reflecting this glimmer of hope this morning with the stock jumping around 4 per cent to the top of the FTSE 100, helping to reverse some of the losses over the last year. 

'While shares have struggled over a one-year period shedding more than a third, they have been performing better lately with an encouraging uptrend over the past six months.'