JD Sports news and archive

JD Sports hires Nike veteran as new non-exec director

JD Sports has named Bert Hoyt as a new non-executive director. Hoyt is a sportswear veteran who spent the most part of his career at Nike, joining in 1998 and working his way up to the position of vice president and general manager of Nike EMEA before retiring in January of this year. During his time at Nike, Hoyt was credited with transforming...

Business

JD Sports Fashion says sees higher FY adjusted pre-tax profit

London - British sports-fashion retail company, JD Sports Fashion Plc (JD.L), in its AGM trading update, said it believes it is on track to deliver adjusted profit before tax for the full year at an increased level of no less than 550 million pounds. The Group said its forecast reflects risk of further temporary store closures and the potential...

Business

JD Sports faces executive pay controversy

A backlash about excessive executive pay has ensued after JD Sports remunerated its chairman Peter Cowgill nearly 5 million pounds in a salary and bonuses, despite the company receiving 61 million pounds during the UK furlough scheme and a further estimated 38 million pounds in business rates relief. Glass Lewis, a shareholder advisory company,...

Fashion

JD Sports is the official activewear partner for Love Island

British sportswear retailer JD Sports has announced a partnership with Love Island, becoming the official activewear provider for the seventh season. The sportswear brand has also launched a personalized section for fans to order caps, towels, face coverings, bags, and more. Peter Cowgill, JD Sports fashion executive chairman told Drapers: “Love...

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Business

JD Sports to offload Sports Unlimited Retail for 16.5 million euros

British sportswear retailer JD Sports is to offload Sports Unlimited Retail to its 50.02 percent subsidiary based in Spain for 16.5 million euros. JD Sports said its subsidiary Iberian Sports Retail Group is more focused on the sporting goods sector than the core JD brand and therefore its management team will be better placed to drive growth...

Business

JD Sports denies rumours that CEO Peter Cowgill is stepping down

British sportswear retailer JD Sports has denied media rumours that its CEO and executive chair Peter Cowgill is planning to exit the business. In a statement released Tuesday morning, the company said: “JD can confirm to both investors and to its international brand partners that the board is not engaged in a process to recruit a chief...

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Business

JD Sports acquires British menswear retailer Oi Polloi

UK sportswear giant JD Sports is reportedly continuing its acquisition spree following news it has snapped up Manchester-based menswear boutique Oi Polloi. JD Sports bought the Northern Quarter store and online assets of the cult brand earlier this year - and chairman Peter Cowgill has become a company director, according to filings seen by The...

People

Andy Rubin steps down from JD Sports board, successor announced

JD Sports has announced that Andy Rubin has stepped down from its board as a non-executive director. “I would like to thank Andy Rubin for his valuable contribution to the board over the last five years at JD, which has been a period of substantial growth of the group in geographic reach, turnover and profitability,” said JD Sports executive...

Business

JD Sports completes acquisition of DTLR

JD Sports has completed its 495 million dollar acquisition of US footwear label DTLR. “We are delighted that this transaction, which gives us an enhanced presence in the north and east of the United States, has now formally completed,” said JD Sports chairman Peter Cowgill in a statement. He continued: “We look forward to working with the...

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Business

JD Sports boss says Brexit is worse than expected, eyes EU warehouse

The executive chairman of JD Sports says Brexit has been “considerably worse” than expected so far, and that the company is considering setting up a distribution centre in the EU to avoid new tariffs. Peter Cowgill told BBC Radio that new red-tape and delays related to shipping products to the EU since the UK left the block last month have...

Business

JD Sports mulls equity capital raise

JD Sports has confirmed it is considering an equity capital raise to help drive its expansion. “The board confirms that it is exploring additional funding options with a view to increasing its flexibility to invest in future strategic opportunities and that this may involve a non pre-emptive equity placing,” the company announced on Tuesday. It...

Business

JD Sports and Authentic Brands in talks over joint bid for Topshop

JD Sports and Authentic Brands could reportedly team up to acquire Topshop, the flagship brand of the collapsed Arcadia Group. UK sportswear retailer JD Sports and Authentic Brands, the US owner of Forever 21 and iconic department store chain Barneys, are in the early stages of talks over a joint bid for Topshop, Sky News reports. It comes just...