If you’re wondering why JD Sports Fashion full-year results are being held back, it certainly isn’t performance-related. Strong sales have prompted JD to raise its profit guidance for the third time in five months.
JD Sports Fashion is preparing to wave a white flag in its fight to incorporate Footasylum into its business. The UK-based retailer is set to concede defeat in its battle with the Competition and Markets Authority.
JD Sports issued a stock exchange statement on Monday after a weekend report said that its executive chairman had held meetings with his opposite number at Footasylum, possibly breaching competition rules.
JD Sports has received a blow with the UK’s Competition and Markets Authority (CMA) again provisionally blocking its acquisition of the Footasylum chain after a review of its decision to block the deal.