JD Sports to buy majority stake in Spain’s Deporvillage for €140.4m June 28, 2021 Sports retail chain JD is set to buy 80 per cent of issued shares in Spain’s Deporvillage, the retailer confirmed today, through its holding company Iberian Sports Retail Group (ISRG). The deal will be worth around €140.4m, of which €40.4m has been deferred and will be paid if the business performs well in the months [...]
Another adviser warns JD Sports shareholders on chairman’s pay June 19, 2021 Another leading adviser has added its name to group urging JD Sports shareholders to look at bonus payments for bosses, despite the retailer refusing to repay government support. Adviser IVIS has warned shareholders over votes on bonus payments and its future remuneration policy, Sky News first reported. Advisory service Glass Lewis has already issued [...]
Sports Direct to expand into Europe June 18, 2021 Sports Direct will expand into major UK and European, in part to take on rival JD Sports. Michael Murray, head of elevation at parent company Frasers, said Sports Direct would expand via both acquisitions and “incremental opportunities” to help built its presence at home and abroad, the Financial Times first reported. “We have a strong [...]
JD Sports under fire for ‘inappropriate’ chairman bonus June 13, 2021 JD Sports is facing fierce criticism for paying bonuses to executive chairman Peter Cowgill despite taking tens of millions of pounds in government support. In a damning report shareholder advisory service Glass Lewis recommended that investors vote against the company’s “inappropriate” pay policy. It also said shareholders should oppose Cowgill’s reelection due to inadequate succession [...]
JD Sports beats profit forecasts as it shakes off pandemic hit April 13, 2021 JD Sports today reported full-year profits well ahead of market expectations as trading proved resilient despite the impact of store closures. The fashion retailer booked profit before tax and exceptional items of £421m in the year to the end of January. This was down from £439m the previous year but well ahead of market expectations [...]
The Week Ahead: Tesco, Coinbase IPO, JD Sports, JPMorgan, Goldman Sachs April 12, 2021 Some of the biggest banks are set to report earnings this week, with JPMorgan, Wells Fargo and Goldman Sachs all due on Wednesday. On a macro level, Tuesday’s UK GDP figures and inflation data from the US are undoubtedly going to be important. Meanwhile, the largest US cryptocurrency exchange, Coinbase, goes public. City A.M. looks at [...]
FTSE 100 closes flat while Wall Street rally loses steam February 9, 2021 The FTSE 100 closed flat on Tuesday afternoon while Wall Street retreated on the back off a record session yesterday. London’s blue-chip index closed 0.12 per cent higher as sterling rose to a near three-month high, largely because the dollar floundered as investors eyed a large stimulus package on the horizon. The FTSE 250 closed [...]
JD Sports raises £464m to fund future expansion plans February 4, 2021 Sportswear brand JD Sports this morning announced it had raised £464.2m which it will use to fund its expansion plans as it eyes acquisition opportunities in new markets. The retailer said that it had placed 58.4m new shares at 795 pence a share, representing about 6.0 per cent of its share capital. The successful raise [...]
JD Sports buys American sportswear brand DTLR Villa February 1, 2021 JD Sports will buy American sportswear brand DTLR Villa, in a deal worth $495m. Based in Baltimore, Maryland, and currently majority owned by BRS & Co. and Goode Capital, DTLR was established in 1982 and is an athletic footwear and apparel streetwear retailer. Originally named Downtown Locker Room, the company later re-branded as DTLR and, [...]
Shakespeare: JD Sports’ athleisure focus leaves them sitting pretty January 20, 2021 JD Sports and Sports Direct are known rivals and their parent companies own most of Britain’s high streets. While both sell many of the same brands, there are marked differences in the companies’ focuses, with JD Sports selling sports-fashion and Sports Direct selling sports equipment and clothing. Earlier in January, JD Sports predicted its annual [...]