JD Sports news and archive

JD Sports hails strong H1, on track to meet FY earnings outlook

UK sportswear giant JD Sports said Thursday it expects to meet its full-year profit target as its customers remain “resilient” against a backdrop of macro-economic challenges. The company expects to make a profit before tax and adjusted items of 1.04 billion pounds in the 12 months to February 3, 2024, which would represent year-on-year growth...

Business

Adidas and JD heads join Women’s Sports Alliance advisory board

The Women’s Sports Alliance (WSA) has announced new members of its advisory board, in place to aid in the organisation’s mission of advancing the careers of female athletes. The board is led by former Adidas vice president of sales, UK and International, Phil Benton, with fellow industry veteran and sustainability lead for Adidas Europe...

Business

JD acquires remaining 40 percent stake in Poland-based MIG

JD Sports Fashion Plc has acquired the outstanding 40 percent minority stake of Marketing Investment Group S.A. (MIG) from its minority shareholders and will now become the 100 percent sole owner of MIG. The company said in a statement that JD originally acquired a 60 percent stake in Poland-based MIG in April 2021, and since then has...

Business

CMA rules JD and Leicester City FC broke competition rules

Following a lengthy investigation into the duo’s operations, the UK’s Competition and Markets Authority (CMA) has officially found JD Sports and its partner Leicester City Football Club Limited guilty of breaking competition law. The decision comes in regards to allegations that the two companies colluded to restrict competition in the sale of...

Business

JD Sports to acquire remaining 49.98 percent stake in Iberian business

JD Sports Fashion Plc plans to acquire the remaining 49.98 percent shares in Iberian Sports Retail Group (ISRG) from Balaiko Firaja Invest and Sonae Holdings for a cash consideration of 500.1 million euros. Upon completion of the transaction, the group will own 100 percent of ISRG. Commenting on the development, Régis Schultz, CEO of JD Sports,...

Business

CMA: JD Sports broke competition laws with Leicester City FC

JD Sport has found itself in the crosshairs of the UK’s competition watchdog once again for breaking competition laws alongside football club Leicester City FC. The Competition and Markets Authority (CMA) said Wednesday it has provisionally found that JD Sports and Leicester City FC “colluded to restrict competition in the sales of Leicester...

Business

JD Sports enters Middle East with new franchise deal

JD Sports has begun its expansion in the Middle East through a new franchise agreement with Dubai-headquartered company GMG. The British sportswear retailer has been looking to enter the region as part of its five-year global growth strategy, through which it stated that it had its sights set on underpenetrated markets. The 10-year agreement...

Business

JD Sports reports positive trading, maintains outlook

JD Sports Fashion Plc has reported positive trading in all regions through May with overall growth in organic sales at constant exchange rates in the month of around 8 percent. The company said in a release that positive trends have continued through June in the group's businesses in the UK, Europe and Asia Pacific although the growth from these...

BusinessFeatured

JD Sports expects profit to cross one billion pounds in 2023

JD Sports Fashion in a preliminary results statement said that total revenue increased to 10.125 billion pounds, up 12 percent on the prior year. The company added that trading to date in the current financial period saw growth in organic sales at constant exchange rates of more than 15 percent after 13 weeks. "We expect that the group's...

BusinessFeatured

JD Sports proposes acquisition of France’s Courir, simplifies European shareholdings

JD Sports Fashion has announced its intention to take acquisitive steps towards French sportswear company Courir as it looks to fulfil growth ambitions it had previously outlined in February. The group said that it had entered into “exclusive negotiations” with the owner of Groupe Courir with regards to a potential future acquisition of 100...

Business

JD Sports makes two non-exec director appointments

JD Sports Fashion has announced the appointment of Angela Luger and Darren Shapland as non-executive directors, effective from June 1. Luger will be joining the group’s remuneration committee, bringing experience in digital commerce, digital transformation and marketing to the board. Next to JD, Luger also serves as a non-executive director for...

People

JD Sports appoints first global managing director

JD Sports has appointed Michael Armstrong to the newly created role of global managing director. A JD veteran, Armstrong joined the retailer in 1995 as a sales assistant in the company’s Glasgow store, before working his way up the ranks, serving in a number of senior roles before being appointed to his most recent position as group buying...