Sep 19, 2019

Watchdog threatens to refer JD Sports takeover

JD Sports' takeover of Footasylum is facing greater scrutiny after the competition watchdog warned it may could result in "a worse shopping experience for customers". JD Sports was "By far" the biggest firm in the sports fashion sector, it said. Peter Cowgill, executive chairman of JD Sports Fashion, said: "We continue to believe that Footasylum would be a positive addition to the group, bringing a differentiated customer demographic and fashion-led product range that is complementary to our existing business." "Colin Raftery, senior director at the CMA, said:"Our investigation has shown us that JD Sports and Footasylum have been competing strongly across the UK, with a sports fashion offering that few other retailers are able to match. The watchdog said that the "Sports fashion" was a major industry - last year, UK consumers spent more than £5bn on sports clothing and footwear.

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