JD Sports silent on potential Go Outdoors "takeover"
The retailer refused to comment on what it calls market speculation and rumour
UK retailer JD Sports is keeping tight-lipped regarding reports it is eyeing an acquisition of rival retailer Go Outdoors.
According to an article published by Sky News, the retailer is among a number of bidders exploring offers for the UK footwear and equipment retailer.
Last year JD Sports saw its earnings nearly double, boosted by sales in its sports fashion division and continued expansion across Europe.
In the year to the end of January, net earnings reached GBP100.6m (US$142.3m) from GBP54m a year earlier. Gross margin was at 48.5%, while pre-tax profit surged 45% to GBP131.6m.
The company has declined to comment on the reported acquisition, with a spokesperson telling just-style "JD Sports does not comment on market speculation and rumour."
According to Sky News, the acquisition, if it were to happen, would cement its status as the London Stock Market's biggest sporting goods retailer.
Sectors: Fibres & fabrics
Help test our new apparel sourcing tool.
- Outlook 2017 – What next for apparel sourcing?
- Outlook 2017 – What else is the industry watching?
- Outlook 2017 – Strategies for sourcing success
- Is China about to burst its apparel trade bubble?
- Outlook 2017 – Challenges and opportunities
- M&S quality focus finally lifts clothing sales
- MAS Holdings planning second industrial park
- Sri Lanka on track to regain EU GSP+ benefits
- 22 dos and dont's – When sourcing goes wrong
- Aéropostale to reopen 500 stores across the US
- Global apparel markets: product developments and innovations, October 2016
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Anti-odour clothing: fresh fashion for an active lifestyle
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar