JD Sports chairman purchases £400,000 in shares

JD Sports has announced that its Chairman Andrew Higginson has purchased almost £400,000 worth of shares in the sportswear retailer.

Higginson, who replaced Peter Cowgill as JD's new Chairman last month, bought 292,725 for 132.67p and an additional 6,217 shares at 132.32p.

The share buy comes after JD Sports confirmed that it had completed the sale of Footasylum to German investment group Aurelius for £37.5 million. 

Last year, the Competition and Markets Authority ordered JD in November to sell the business it bought in a £90 million deal in 2019 over competition concerns.

JD also recently announced the appointment of Régis Schultz as its new CEO to drive the sports fashion PLC's international growth ambitions.

The company has delayed its full-year results to allow auditors more time to comb through the impact an enforced sell-off of Footasylum will have on the business. It confirmed it expects the results to be ahead of market expectations, following a successful sales period through January.