JD Sports falls; Nike retailer keeps annual outlook unchanged despite H1 beat
** Shares in JD Sports JD.L drop 2.8% to 145.3p, top loser on FTSE 100 index .FTSE
** The British sportswear retailer forecasts meeting annual profit target but sees 20 mln pounds ($26.6 mln) FX headwind in H2 with stg strengthening against U.S. dollar and euro
** Beats market view for H1 profit, helped by its multi-brand strategy as Nike, who's shoes it retails, continues to struggle
** Nike NKE.N on Tuesday withdrew its annual outlook; warned its holiday season to be filled with discounts after weak qtrly results
** "Company has impressively hurdled the weak performance of Nike in the period, and the evolution of the range has had positive implications for margins," Peel Hunt analysts say on JD
** Peel Hunt adds UK and Europe saw pockets of weakness as lesser shoppers stepped out during the Olympics
** "Fundamental issue in these (UK, Europe) areas were the weak nature of apparel sales, not helped by the poor weather in the early summer"
** Up to last close, stock had fallen ~10% so far this year
($1 = 0.7527 pounds)
Reporting by Prerna Bedi in Bengaluru
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