Britain's biggest sportswear retailer JD Sports Fashion is likely to build a distribution centre within the European Union and create around 1,000 jobs there to avoid paying post-Brexit tariffs, its chairman said.
JD Sports said Wednesday it plans to sell about 6% of its shares to build a warchest as the biggest sportswear retailer in the UK seeks further acquisitions. Its current market capitalisation is around £7.95 billion
JD Sports hasn’t stopped looking for acquisitions and on Monday it said that it has reached a conditional agreement to buy US-based DTLR Villa, the “hyperlocal athletic footwear and apparel streetwear retailer”.
There's a new frontrunner in the race to buy Topshop, Topman and Miss Selfridge with Asos being suggested as the lead contender on Saturday evening, which could mean the chances of saving any stores are slim.
The company seen as the frontrunner to win the Topshop auction surprised observers late on Thursday as it emerged Next had pulled out of bidding for the most valuable name in the Arcadia basket of brands.