Britain’s JD Sports Fashion plans to look overseas for further growth after bucking a gloomy UK retail sector by boosting annual profit by a quarter, eyeing expansion in the U.S., Asia and other European markets.
JD Sports is riding high at the moment and that’s making it acquisition-hungry. The latest? US-based The Finish Line, with the company having entered a conditional (and game-changing) deal to buy it at the weekend.
JD Sports Fashion was one of the winners in UK retail over the Christmas period with the company saying on Tuesday that its strong first half trading didn’t slow down in the second half, unlike many of its retail peers.
As the UK gets ready for a spate of trading updates, it seems that the week before Christmas saw a late shopping surge with fashion sales rising year-on-year, but it's unlikely to have rescued an otherwise weak season.
UK Christmas spending is likely to rise this year but the latest set of data suggests that it’s inflation that will be driving that rise, not consumer enthusiasm, and fashion will suffer even though beauty will prosper.
Newly-listed shares may not always trade strongly, as we’ve seen several times this year, but Footasylum did at least hit the stock market with a bang on its debut day. Its shares soared over 23% in the first few hours.
‘Supermalls’ in the UK are set to outperform physical retail growth overall, as they attract Millennial shoppers by including more leisure options in their mix, according to a new report from GlobalData.
Sports shoe and clothing retailer Footasylum has confirmed its float plans with the company saying Monday that it will list its shares on the London Stock Exchange’s Alternative Investment Market (AIM).