JD Sports Fashion Plc is a leading international multichannel retailer of sports, fashion and outdoor brands.
This fashion group’s portfolio consist on a number of leading fashion and sports brands including Footpatrol, Size?, Sprinter, Chausport, Sport Zone, Perry Sport and Aktiesport and Next Athleisure.
In April 2019 the group reported a 49.2% increase in annual revenue to £4.7bn for the 52 weeks to 2 February. Meanwhile, profit before tax was up 15.4% to £339.9m. The results came just days after JD’s £90m offer for UK retailer Footasylum was declared unconditional. JD Sports acquired the competitor in March, a month after it purchased a 19% stake and told investors that it would not purchase Footasylum outright. However both JD Sport Fashion and the owner of Footasylum, the Pentland Group, have been issued with an initial enforcement order as investigations take place into the deal. The Competition and Merger Authority (CMA) inquiry will look into whether the acquisition will result in the “substantial lessening of competition” in the UK market.
Restrictions had been in place regarding the number of shares which JD could purchase in the company, but these were lifted in February. Until a decision is made by the anti-monopoly body, JD Sports and Pentland are banned from taking any actions to integrate the two businesses.