JD Sports

Ticker JD.

Today's data summary

Market open
% change
-0.55%
Price Pence
471.10
Change
-2.60
As of 10:22 20 Feb 2019
Market cap. Pound sterling
4,584.90 million
As of 10:22 20 Feb 2019

Latest updates

Footasylum shares rocket

logo
FOOTASYLUM

Shares in Footasylum have raced higher since JD Sports announced it has bought a stake.

The shares are up 75% at 50p - but still remain well below the levels around 165p they were trading at in June 2018 when it first starting admitting that trading was under pressure.

The business was only floated on AIM in November 2017 and at the time made Clare Nesbitt, at 30, the youngest chief executive of a London-listed company.

She is the daughter of David Makin who along with John Wardle founded JD Sports.

Mr Makin founded Footasylum in 2005 after selling out of JD Sports.

BreakingJD Sports snaps up Footasylum stake

shop
FOOTASYLUM

JD Sports has bought an 8.3% stake in Footasylum.

The company said this was for "investment purposes".

JD Sports said it was prepared to buy up to 29.9% of Footasylum but not intending to make an offer.

The stake amounts to 8.7 million shares.

JD Sports: one of the few earnings upgrades

JD sports store
Getty Images

Greg Lawless, analyst at Shore Capital, has been looking at the trading update from JD Sports.

"There will not be many UK retailers showing earnings upgrades this January," he writes.

"JD remains a tightly managed company with good cash generation, international expansion and good growth prospects. The shares have fallen 11% over the last three months and with this good news in tow we reiterate our buy rating, highlighting the growth-opportunities - both internationally and in the UK - that the group can harness," he adds.

'More agility" on rates - JD Sports

Today Programme

BBC Radio 4

JD Sports store
Getty Images

Peter Cowgill, executive chairman of JD Sports, has told BBC Radio 4's Today Programme that it is time to change the rents and rates of High Street retailers.

"I would think there would be downward pressure on [rents and rates]. There needs to be more agility in the market, more flexibility, so that leases aren't quite as long term and the commitment isn’t as great," he said.

He was speaking after the retailer reported sales up 5% over a 48 week period.

JD Sports expects healthy profits

JD
Getty Images

JD Sports says it is confident that its full-year results - for the year to 2 February 2019 - will be at the "upper end" of published market expectations.

These range from £325m to £352m.

"Given the well-publicised challenges within the wider UK retail market, we are pleased with this trading result which further demonstrates the robust foundations of our dynamic multibrand, multichannel proposition across our core market and our capacity for further growth across an expanding geographical reach," the company said.

JD Sports bucks High Street downturn

JD sports stores
Newscast

JD Sports, which also owns Size, Blacks and Go Outdoors, is the latest retailer to provide a trading update.

It says like-for-like sales - which strip out new store opening and closing - are up "more than 5%" over the 48 weeks to 5 January.

Total sales growth is 15% (excluding the recent acquisitions of Finish Line in the United States and Sport Zone in Iberia).

Sales had been "consistently positive" across Black Friday and the Christmas period, the company said.

Barriers installed after sports shop ram-raid

Concrete barriers have been installed outside a shop ram-raided in Sheffield last week.

The bollards outside the store
BBC

The JD Sports shop on The Moor was left with glass smashed and trainers scattered over the floor during the early morning incident on Monday 17 December.

Now, concrete blocks have been placed outside the glass frontage of the shop to stop repeat attacks.

The JD store
Andy Wroe

It's believed a large number of designer clothes were stolen in the raid.

JD Sports finance chief to retire

JD Sports store
Newscast

Sportswear retailer JD Sports has announced that its chief financial officer, Brian Small, is to retire at the end of this month.

Mr Small, who has been at the company for nearly 15 years, will be replaced by Neil Greenhalgh, who is currently the company's group finance director.