A leading retailer on the nation's main streets plans to shut down 50 outlets in the coming year.

JD Sports, operating 4,850 stores globally including 412 locations in the UK, plans to undergo restructuring in the upcoming fiscal year.

Approximately 150 new outlets are set to launch, whereas around 100 others will either undergo conversion or get moved to different locations, as stated in a recent quarterly report released early this month.

The well-known sporting goods retailer, operating in 36 nations worldwide, plans to close approximately 50 outlets primarily located in Eastern Europe, according to the report.

It is clear that this is not connected to the President. Donald Trump Currently affecting nations around the world are these tariffs.

The firm expects 'turbulent' trading conditions for the coming year, following a 'difficult market' situation at the close of this fiscal period.

However, the company is on track to meet this year’s profit and sales goals, even though the firm’s stock has declined recently. Sun reported.

The revenue saw a slight increase this quarter, largely due to the performance of the European outlets.

The report stated: "We anticipate that the trading conditions in our primary markets will remain unpredictable for the entire year, and we began this year consistent with our forecasts."

We observe the recently announced proposals for tariff modifications. The implications of these changes remain unclear at present.

We maintain frequent communication with our brand partners, however, it’s still too soon for us to make remarks regarding the possible effects on the sector.

President Trump's tariffs, which impose taxes on U.S. businesses for importing foreign products, were implemented starting on April 2nd; he referred to this date as "Liberation Day."

He imposed comprehensive 10 percent tariffs across the whole world, affecting approximately 60 countries with extra duties.

Trump put a whopping 145 per cent tax on China - but the UK has not been hit with any additional increases beyond the 10 per cent base rise.

It comes after Last month, MailOnline's interactive map highlighted the stores that have shut down in your town up until 2025. .

Amidst the challenges faced by High Street businesses due to the impacts of COVID-19 and the escalating cost-of-living crisis, analysts forecast that approximately 17,350 shops could close down for good this year.

Major retailer WHSmith along with several banking institutions such as Lloyds, TSB, and NatWest have declared numerous store closings. Additionally, fashion brands like New Look and Select have also announced shutdowns.

In 1981, JD Sports commenced operations with its inaugural store in Bury, located in Greater Manchester, under the name John David Sports.

It kept expanding across North West England over the subsequent years before establishing its initial London location in 1989.

The brand has become an emblem of the British high street – yet it also operates stores throughout Europe, North America, and beyond. Asia Pacific.

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