JD Sports, Footasylum probe overturned by Competition Appeals Tribunal
The Tribunal said that CMA “acted irrationally” in drawing conclusions on the effects of the pandemic and on the risks posed by competitors
Company
JD Sports Fashion PLC
LON:JD.
JD Sports Fashion plc has long been established as the leading UK specialist multiple retailer of fashionable branded and own brand sports and casual wear, principally through the growth of its main retail fascia, JD Sports. The JD Group now has well over 500 stores covering both sports and branded fashion but it all started when John David Sports was founded in 1981 with one shop in Bury. By 1983 the fledgling business was expanding into the Arndale Centre in Manchester and throughout the 1980s there were further openings, largely in the North and Midlands. The first London store was opened in Oxford Street in 1989 and by the time of JD’s stock market flotation in 1996 there were 56 stores. Maximum advantage was being taken from the growth in sales of international sports brands such as adidas, Nike, Reebok and Puma and the trend to wear sportswear more and more in everyday life rather than largely on sports fields. Additionally, JD had already developed its reputation as the most innovative visual merchandiser of sportswear with the best and most exclusive and stylish ranges.
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JP Morgan initiates coverage of JD Sports with ‘overweight’ rating
The retailer is expected to deliver continued top-line growth thanks to its positioning in the sporting goods sector
JD Sports and Dixons upgraded as RBC highlights resilience of both firms in respective markets
For JD, the Canadian bank said they expected the athleisure retailer's UK market to “prove relatively resilient, due to higher conversion and strong digital sales”
JD Sports bumps up profit forecast as young people keep buying trainers
The retailer's profit before tax for the year to February 1, 2021, is expected to be “at least” £265mln
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FTSE 100 index closes a tad lower as tech sell-off in New York dents sentiment
Britain's blue-chip benchmark finished down around seven points, or 0.12%, at 5,930
JD and tonic from Fevertree on the menu for Tuesday
There should also be updates of interest from Ashtead, Travis Perkins and DS Smith
JD Sports slapped with record fine over Footasylum takeover
The CMA said the athleisure wear chain and its largest shareholder Pentland had breached an enforcement order imposed last year following its takeover of the footwear firm
JD Sports should accompany international expansion with strong online offering, analysts say
Experts are wondering how the mix of physical and online shopping will evolve and the implications on the store portfolio
JD Sports strengthens online business as it forecasts prolonged low footfall
Footfall is expected to remain uncertain for the foreseeable future due to the impact of social distancing
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FTSE 100 posts triple-digit drop as bearish sentiment returns
Britain's blue-chip benchmark finished down around 96 points, or 1.53%, at 6,189 as traders fretted once more about the pandemic
Retail and hotel company updates to shine light on coronavirus lockdown performances
JD Sports Fashion and Halfords will issue full-year results, while Premier Inn owner Whitbread issues a trading update
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Rolls-Royce, retailers, hoteliers and housebuilders to dominate corporate calendar in coming week
The week will also see trading updates from recruiters PageGroup and Robert Walters
JD Sports confirms Go Outdoors administration notice
Administrators have not been appointed yet but creditors cannot take or continue legal action for ten days
Two sides of post-pandemic retail: RBC downgrades JD Sports, upgrades Kingfisher
JD Sports may be hit by low consumer confidence among the younger population, while Kingfisher is to benefit from a renewed interest in DIY
JD Sports target price hiked as Berenberg says group poised to benefit from market consolidation
The bank also said while they were mindful of near-term uncertainty, they were “even more optimistic on the recovery of sportswear demand and the resilience of JD’s core consumer”
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JD Sports told to sell Footasylum as competition authority vetoes merger
"In the midst of a global pandemic and with the UK high street in a state of complete lockdown, the CMA's final decision is even more absurd"
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JD Sports unveils final results halfway through shorter week
Current trading for JD's still operating online division is likely to be closely eyed for how much sales will be able to offset the impact from retail closures amid the coronavirus pandemic
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JD Sports and Flutter to report key figures and updates in coming week
Updates are also expected from pest control group Rentokil as well as blue-chip miner Rio Tinto
Shops and pubs recovery to be gradual, but there will be winners
Analysts say the pace of recovery also depends on how governments lift restrictions
JD Sports’ online sales to be “small mitigation” for losses due to coronavirus shut-down
The retailer said it will now publish its results in the second half of May to allow for greater clarity on guidance
JD Sports blasts ‘fundamentally flawed’ CMA investigation as regulator moves to block Footasylum acquisition
The regulator said its preliminary findings had revealed competition concerns over the £90mln merger, which was completed in May last year
JD Sport shares likely to take a breather now, predicts UBS
“Further share price upside requires earnings upgrades”, analysts at the bank said, but this looks a tough ask
JD Sports holds out for overseas stores after challenging UK Xmas
The retailer said its international operations had shown the strongest positive trends over the festive period
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FTSE 100 closes lower after lacklustre US monthly jobs report
The US created 145,000 jobs last month as hiring slowed and wages eased as the hourly wage growth fell below 3% in December for the first time in over a year
US jobs data to end the week; JD Sports continues Christmas high street updates
Capital Economics expects the December data to show a 150,000 gain in non-farm payrolls
Mike Ashley criticises CMA probe of JD Sports
The Sports Direct boss does not want the competition authority to use what he sees as “inaccurate estimates” of his company's market share
Snap election this year could spell deeper misery for retailers
Analysts at Peel Hunt said a customary drop in footfall that often accompanies an election campaign could hit retailers over the critical Christmas period
JD Sports hit by full competition investigation into Footasylum deal
Competition & Markets Authority said last month that it thought the deal may result in a “substantial lessening of competition”
Mike Ashley puts boot into JD Sports' close ties with big sports brands
Sports Direct stirred the pot by highlighting concerns about the power of big brands in the market to elevate prices
JD Sports runs into regulatory wall over Footasylum deal
The company is in discussions with the competition authorities over whether any acceptable remedies can be agreed to make the deal acceptable
JD Sports logs higher profits and revenues as it bucks trend of high street gloom
The FTSE 100 ‘athleisure’ retailer reported that like-for-like sales in its first half had risen by more than 10%
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JD Sports, Ashtead and 888 to head deluge of results on Tuesday
The second day of the week will also bring the UK's latest unemployment figures
AB Foods, JD Sports and UK macro under microscope in coming week
Morrisons, Galliford Try, Ashtead Group, Bovis Homes, Sanne and JD Wetherspoon are among others reporting in the week
Competition watchdog probes JD Sports' takeover of Footasylum
The Competition and Markets Authority has confirmed that it has launched a Phase I merger enquiry
JD Sports’ US growth potential not yet priced into the shares, says UBS
“We believe the market is underestimating the Finish Line turnaround opportunity, based on the latest UBS Evidence Lab price-tracking data showing positive indicators emerging”
JD Sports gets a spring in its step following strong trading and store expansion
"Encouraging" sales in its UK and international markets, combined with 29 new stores, meant the retailer expected its full-year profits to be "at least" in line with market estimates
Investments and investor services
FTSE 100 closes higher again as bullish sentiment continues
Footsie closed around 50 points higher at 7,609 on Wednesday
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Serco's acquisitions and contract wins will be in focus on Thursday
Serco has already flagged that it expects its strong order intake to boost revenue in 2019 after several years of declines.
Investments and investor services
FTSE 100 closes near flat as US ADP jobs report shakes confidence
The UK blue-chip share index finished up around four points at 7,218
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Mid-caps to dominate corporate news on Wednesday as FTSE reshuffle day arrives
Budget airline easyJet is expected to exit the FTSE 100 index after the latest quarterly review, while JD Sports is seen taking its place among the blue-chips
easyJet’s FTSE 100 relegation could be more of a dip than a descent
The budget airline is accompanied by generic drug maker Hikma on the list of firms facing the blue-chip trap door
Immedia picks up the pace as it swings to profit in 2018
The marketing firm reported a pre-tax profit for the year ended 31 December of £106,204, swinging from a £693,268 loss in 2017, while revenues jumped to £4.7mln from £3.5mln
Billion-pound Finish Line boost spurs JD Sports to record annual profit
In the six months since becoming part of the JD stable, Finish Line racked up sales of £957mln and contributed £27mln to the bottom line
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FTSE 100 ahead at the close as investor appetite returns
The premier UK share index finished around 33 points higher at 7,469
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Jobs, earnings numbers to kick off a big few days for UK data as Brexit economic impacts eyed
Aside from the UK data, investors will have trading updates from bluechip miner Rio Tinto, mid-cap staffing group Hays, and trackies to trainers retailer JD Sports Fashion to digest
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Hot cross buns will be wanted but there is still plenty to digest in the week before Easter
There will be plethora of UK data - jobs, inflation, and retail sales - plus corporate updates from the likes of Unilever, BHP Rio Tinto, Bunzl and Rentokil Initial
Does Sports Direct's Mike Ashley only buy crap companies?
Following the rescue of House of Fraser from administration last summer, as well a proposed (and then swiftly withdrawn) offer for Patisserie Valerie in February, you could be forgiven for thinking that all Mike Ashley does is buy up firms
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Small cap movers: Footasylum set for homecoming as elder sibling JD Sports unveils takeover deal
A look back at some of the more interesting stories from the junior market over the past week
JD Sports to buy struggling rival Footasylum for up to £90.1mln
JD Sports had ruled out a takeover bid in February when it bought a stake in Footasylum
Footasylum sprints higher as JD confirms plans to build 29.9% stake in struggling rival
JD has taken an 8.3% stake in its retail rival, but it told the market on Monday that it is prepared to take that up to 29.9% over the coming months
Berenberg upgrades DFS to ‘buy’ from ‘hold’ after raising its target price for sofa stores firm
Berenberg analysts pointed out that DFS’s like-for-like sales turned positive across all brands in the first-half of the current year and think its profit forecasts are underpinned by M&A synergies
How JD Sports bucked the high street doom and gloom once again
Analysts reckon it’s a combination of factors, although most of thing come back to the same thing: JD sells things that today’s youth want to buy
JD Sports surges as strong Christmas trading boosts earnings outlook
The FTSE 250 sportswear retailer that total sales growth for the 48 weeks to 5 January was up 15% while total like-for-like growth was more than 5%
Investments and investor services
FTSE 100 closes lower as Chinese data and Brexit weighs
Footsie closed down over 63 points at 6,855 on the day
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Brexit, UK inflation the main focus but retail and housebuilder updates continue to flow
Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
Peel Hunt spotlights 29 stocks with potential to double on 2-3 year view including Base Resources, Eland O&G, Motif Bio, Circassia
The City broker’s analysts pointed out that December is often a time for winding down and celebrating but with the FTSE All Share looking set to record its worst annual performance since 2008 the festive spirit is a little short this year
UK sportswear retailers: Pick JD Sports over “unloved” Sports Direct, says Berenberg
Berenberg analysts think Sports Direct will be pushed to the side by the likes of Nike and Adidas, while they are unconvinced by the ‘Selfridges of Sport’ ambition
Sports Direct new frontrunner to buy Evans Cycles after reports Halfords has dropped out
Citing sources, Sky News’ website said Halfords - which offered to buy Evans last month - had ended talks with the private equity-owned firm's advisers
JD Sports CFO Brian Small to leave at the end of the month
JD Sports said finance director, Neil Greenhalgh, has been appointed as CFO to replace Brian Small
Five reasons why JD is faring better than Footasylum
JD has a size advantage which gives it better buying power, but there are other reasons why JD is reporting record profits while Footasylum is issuing profit warnings
JD Sports delivers record first-half earnings despite tough UK retail market
JD Sports said it remains "confident that we are well positioned to deliver an outturn in line with current market expectations"
FTSE 100 stays in red at close as Brexit deal confidence wanes; trade fears persist
The UK bluechip index fell 25 points to 7,253 around 3.50pm
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UK jobs and wages in focus given upcoming Bank of England policy meeting
Aside from the latest UK labour market data, Tuesday will also bring corporate updates from the likes of Ashtead Group, JD Sports Fashion, and Cairn Energy
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Heatwave may help or hurt sales at Wetherspoons, JD Sports, Primark and Dunelm
The week ahead includes annual results from Wetherspoons, Galliford Try and Dunelm along with interims from Morrisons and trading updates from AB Foods and Ashtead
Footasylum: The nightmare investment that has been a nice little earner for founder's kids
Investors buying at the IPO price of 164p have lost about half of their investment so far but the kids of Footasylum founder David Makin have pocketed millions
JD Sports on track to deliver annual results in line with market forecasts, says chairman
JD Sports chairman Peter Cowgill said the company is encouraged about the progress the sportswear retailer has been making with its global expansion
Sports Direct sells out of US firm Finish Line Inc days after JD Sports completed its acquisition
In addition, Sports Direct also revealed that its strategic interest in Nasdaq-listed brand license firm Iconix Brand Group Inc was 5.66mln shares, reflecting an 8.6% interest
Footasylum’s increased investment means short-term pain for long-term gain, says City analyst
Shares in the athleisure retailer have halved this morning on news that this year’s profits will be dented by increased investment in its stores, but house broker Liberum reckons the move makes sense
Footasylum stumbles as higher investment and gloomy trading conditions to hit this year’s results
For a company whose valuation is primarily based on its ability to grow substantially in the coming years, any downgrades, especially big ones, are always going to knock the share price
Why Dixons Carphone, Just Eat and Sports Direct will be among the World Cup winners
The World Cup is just around the corner and it’s not just football fans getting excited, the tournament also tends to boost sales for a number of companies
FTSE 100 closes in the black as Shire surges; tobacco stocks drift lower
Shire shares ended 5.89% up as the group received and rejected a takeover approach from Japan's Takeda Pharma
Ascent Resources climbs as formal sale process started after producing revenues in 2017
Some of the top news-driven risers in London at 3.45pm ...
JD Sports sprints higher as athleisure craze helps to drive record profits
JD Sports’ pre-tax profits jumped by almost a quarter to £294.5mln as the younger generations continue to splash their cash on Nike jogging bottoms and EA7 t-shirts
FTSE 100 closes higher as Wall Street surges; sterling eases
FTSE 100 closed higher, as did it mid-cap cousin, FTSE 250
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Wage growth could be trigger point for Bank of England interest rate hike in May
Day ahead includes the latest UK employment and average earnings data, plus trading updates from Primark owner Associated British Foods and fellow retailer JD Sports
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High street issues to the fore as Debenhams, JD Sports, and Primark owner AB Foods provide updates
Week Ahead includes trading statements from Primark owner Associated British Foods, Debenhams, and JD Sports, plus Q1 numbers from Unilever, Reckitt Benckiser and Rentokil Initial
FTSE 100 closes in red as pound firms but miners add support
Sterling added 0.01% against the Euro to 1.1434, while against the US dollar, it added 0.60% to 1.4232.
Investments and investor services
Prospex Oil and Gas boosted by new discovery, Petro Matad pinched by US$16mln placing
A look at some of the top risers and fallers in London today.
Investments and investor services
FTSE 100 closes on a high but latest UK stats weigh on retailers
Turns out it was a blue Christmas for the UK retail sector, with sales data showing a worse than expected December period.
Investments and investor services
Speculators keep GKN shares higher, FTSE 100 miners under fire
A look at some of the top risers and fallers in London today
JD Sports lifts profit forecast again after strong second-half trading
Like-for-like sales growth in the second half remained at 3% despite tough comparatives in the year-ago period
Investments and investor services
FTSE 100 closes lower as miners prove a drag
London’s blue-chip benchmark closed around 13 points lower on the day at 7,755
Archive
UK inflation may tick lower in December; retailers' Christmas updates continue to flow
Day ahead includes latest UK inflation data, plus trading updates from retailers Dunelm PLC, Greggs PLC, and JD Sports Fashion PLC, as well as Johnson Matthey PLC
Investors use Footasylum’s sharp sales growth in 2017 to bank profits
The trendy athleisure wear retailer issued shares at £1.64 as part of its November IPO, since when they’ve surged by 50%
Liberum kicks off Footasylum coverage with gushing 'buy' note
Liberum analyst Wayne Brown is a big fan of the management team, product offering and growth potential at the ‘on-trend’ fashion retailer
Sports Direct slips as US investment bank urges institutions to consider selling their stakes in the retailer
Jefferies has concerns over the effect of increased competition, margin pressures and the performance of new stores
Sportswear retailer Footasylum steps higher on first day of trading
Shares in the sportswear retailer were sold at £1.64 to institutions as part of the initial public offering, but they’re already being offered at 202p
JD founders set for big payday as Footasylum unveils plans to float on AIM
The float comes at an interesting time given the troubles high street retailers have had in recent years
Wildwood owner Tasty plunges once again as losses deepen amid sector-wide “slowdown”
Some of the main news-driven risers and fallers at 3.30pm...
JD Sports posts record first half profits, expects full-year results at top of market expectations
The FTSE 250-listed firm said its pretax profits for the 26 weeks to July 29 jumped by a third to £102.7mln, up from £77.4mln a year earlier
FTSE 100 closes lower as pound strengthens and inflation rises
As trading in London draws to a close, all eyes turn to the launch of Apple's latest iPhone which is scheduled to take place at 6pm UK time
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Apple's latest iPhone launch to push UK inflation numbers into the shade
Day ahead includes the launch of Apple Inc's iPhone 8, the August UK inflation numbers, and first quarter results from FTSE 100 equipment hire firm Ashtead Group
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Carney & Co in the crosshairs, plus key UK data and updates from Next, Morrisons and Wetherspoon
Week ahead includes latest Bank of England policy meeting, UK data on inflation, unemployment, wages and retail sales, plus corporate updates from Next, Associated British Foods, Wm Morrison Supermarkets, and JD Wetherspoon
Mike Ashley's Sports Direct trebles stake in Goals Soccer Centres
Mike Ashley's Sports Direct has been beefing up its portfolio
May the Force be with Sports Direct's Mike Ashley in fighting Brexit challenges in UK retail
Sports Direct has guided towards a return to underlying earnings growth next year but remains cautious on the uncertainty of Brexit
Sports Direct shares surge as Mike Ashley says retailer on track to become 'Selfridges of sport'
Sports Direct posted a decline in annual underlying earnings but is confident that it will return to growth in the next fiscal year
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Dependably dull Unilever versus off-the-wall Sports Direct
Can the supertanker Unilever ride the crest of a wave? Can a Newcastle United owner change his stripes?
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Rookie Investor: If you’re under 40, why haven’t you opened a Lifetime ISA?
Of course if you’ve already done so, this article probably doesn’t apply to you…
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Unilever results to illustrate strategy review boosts; investors looking for Vodafone improvements
Week Ahead: Unilever PLC, Vodafone PLC, easyJet PLC, Sports Direct PLC, Royal Mail Group PLC ...
Game Digital boosted as Sports Direct takes 25% stake
Mike Ashley, who owns 54% of Sports Direct, has barely been out of the headlines in the past week