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JD Sports must sell Footasylum after all, UK regulator says -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: JD Sports signs at London’s store, 11 April 2017. REUTERS/Neil Hall

(Reuters) – Britain’s largest sportswear retailer JD (NASDAQ) – Sports must now sell Footasylum after the UK antitrust regulator found that the combination of these two chains would hurt competition and make it harder for consumers to choose.

JD was ordered by the Competition and Markets Authority in May to dispose of the company it had bought in 2019. However, JD started a thorough investigation after JD appealed.

CMA stated in a statement that JD Sports was “by far and away” the best alternative to Footasylum shoppers.

JD Sports responded that the CMA decision “defies logic”. It said it had been studying the report and would be carefully considering its options.

JD Sports is a distributor of brands such as Nike Puma (OTC) has stated that the COVID-19 Pandemic has increased competition as international brands increase their direct-to consumers businesses.

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