mig news and archive

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

JD Sports raises outlook after Christmas sales increase 20 percent

JD Sports Fashion Plc reported that revenues in its organic retail businesses have strengthened through the second half with total revenue growth for the 22 weeks to December 31, 2022 of more than 10 percent, compared with growth of 5 percent for the first half period. The company said that the performance in these businesses through the...

BusinessFeatured

JD Sports cautious about H2 trading but reaffirms outlook

In an interim results announcement for the first half period, JD Sports Fashion has reported a 19 percent drop in pre-tax profits to 298 million pounds. The company’s total group revenue came in at 4.4 billion pounds. Total revenue growth in organic retail businesses was up 5 percent with that level of growth continuing in the second half to...

BusinessFeatured

Régis Schultz to take over as the new CEO of JD Sports Fashion

JD Sports Fashion Plc has appointed Régis Schultz as the company's new chief executive officer. The company said in a release that Schultz is expected to join JD in September at which time Kath Smith will undertake a full handover of her duties to Schultz during a short transitional period. Smith will then resume her former role as senior...

Business

JD Sports appoints Andy Higginson as new board chairman

JD Sports Fashion Plc has appointed Andy Higginson as chair of the group effective July 11, 2022. The company said in a release that Higginson is a highly experienced and proven retailer and chair with over 28 years of continuous non-executive director experience on PLC boards, including senior leadership roles over nearly 15 years at Tesco....

BusinessFeatured

JD Sports profit doubles, revenues up 38 percent

Total revenue at JD Sports Fashion Plc for the year increased by 38.8 percent to 8,563 million pounds significantly influenced by the impact of the recent acquisitions. The company said in a release that total gross margin for the year increased to 49.1 percent and pre-tax profit doubled to 947.2 million pounds. The company plans to propose an...

Business

JD Sports Fashion raises full year profit outlook

In the trading update on 12 January 2022, JD Sports Fashion Plc said that total revenues for the twenty-two week period to January 1, 2022 in the group's like for like businesses were more than 10 percent ahead of the same period in 2020 with an equally positive performance across the Black Friday and Christmas period. The company added that the...

Business

JD Sports raises full year profit forecast

Total revenues for the twenty-two week period to January 1, 2022 in JD Sports Fashion Plc’s like for like businesses were more than 10 percent ahead of the same period in 2020 with an equally positive performance across the Black Friday and Christmas period. The company said that gross margins for the second half are in line with the prior year....

BusinessFeatured

JD Sports posts rise in H1 sales and profit

Total revenue for JD Sports Fashion plc for the first half increased to 3,885.8 million pounds with a number of recently acquired businesses included in the first half results for the first time. Commenting on the first half trading, Peter Cowgill, the company’s executive chairman, said: “The group continues to demonstrate outstanding resilience...

Business

JD Sports to acquire 60 percent stake in MIG

JD Sports Fashion Plc has entered into a conditional agreement for the acquisition of 60 percent of Marketing Investment Group S.A. (MIG). Commenting on the development, Peter Cowgill, Executive Chairman of JD Sports Fashion Plc, said: “This is an exciting acquisition for JD that will further build on the success of our international development...