Despite these positives, Rogers cautioned that the stock's recovery depends on broader economic factors such as inflation and consumer confidence, which could be affected by global events like the Iran conflict.
Analysts currently rate JD Sports as a Buy or Hold, with an average price target of 104p, implying potential gains of 17% over the next year.
JD Sports' heavy reliance on Nike, which accounts for nearly half of its sales, adds vulnerability.
Nike's own share price has dropped by about 76% since late 2021, reflecting a global trend of reduced discretionary spending on high-end sportswear.
The retail sector faces challenges from inflation, wage pressures, and shifting consumer behavior. JD Sports' UK operations are especially affected by increased National Insurance and minimum wage costs.
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North American profits, which represent around 45% of the total, are also under pressure due to similar economic factors.
