Investments and investor services
FTSE 100 closes near flat as US ADP jobs report shakes confidence
The UK blue-chip share index finished up around four points at 7,218
Company
JD Sports Fashion PLC
LON:JD.
JD Sports Fashion plc has long been established as the leading UK specialist multiple retailer of fashionable branded and own brand sports and casual wear, principally through the growth of its main retail fascia, JD Sports. The JD Group now has well over 500 stores covering both sports and branded fashion but it all started when John David Sports was founded in 1981 with one shop in Bury. By 1983 the fledgling business was expanding into the Arndale Centre in Manchester and throughout the 1980s there were further openings, largely in the North and Midlands. The first London store was opened in Oxford Street in 1989 and by the time of JD’s stock market flotation in 1996 there were 56 stores. Maximum advantage was being taken from the growth in sales of international sports brands such as adidas, Nike, Reebok and Puma and the trend to wear sportswear more and more in everyday life rather than largely on sports fields. Additionally, JD had already developed its reputation as the most innovative visual merchandiser of sportswear with the best and most exclusive and stylish ranges.
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Mid-caps to dominate corporate news on Wednesday as FTSE reshuffle day arrives
Budget airline easyJet is expected to exit the FTSE 100 index after the latest quarterly review, while JD Sports is seen taking its place among the blue-chips
easyJet’s FTSE 100 relegation could be more of a dip than a descent
The budget airline is accompanied by generic drug maker Hikma on the list of firms facing the blue-chip trap door
Immedia picks up the pace as it swings to profit in 2018
The marketing firm reported a pre-tax profit for the year ended 31 December of £106,204, swinging from a £693,268 loss in 2017, while revenues jumped to £4.7mln from £3.5mln
Billion-pound Finish Line boost spurs JD Sports to record annual profit
In the six months since becoming part of the JD stable, Finish Line racked up sales of £957mln and contributed £27mln to the bottom line
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FTSE 100 ahead at the close as investor appetite returns
The premier UK share index finished around 33 points higher at 7,469
Archive
Jobs, earnings numbers to kick off a big few days for UK data as Brexit economic impacts eyed
Aside from the UK data, investors will have trading updates from bluechip miner Rio Tinto, mid-cap staffing group Hays, and trackies to trainers retailer JD Sports Fashion to digest
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Hot cross buns will be wanted but there is still plenty to digest in the week before Easter
There will be plethora of UK data - jobs, inflation, and retail sales - plus corporate updates from the likes of Unilever, BHP Rio Tinto, Bunzl and Rentokil Initial
Does Sports Direct's Mike Ashley only buy crap companies?
Following the rescue of House of Fraser from administration last summer, as well a proposed (and then swiftly withdrawn) offer for Patisserie Valerie in February, you could be forgiven for thinking that all Mike Ashley does is buy up firms
Archive
Small cap movers: Footasylum set for homecoming as elder sibling JD Sports unveils takeover deal
A look back at some of the more interesting stories from the junior market over the past week
JD Sports to buy struggling rival Footasylum for up to £90.1mln
JD Sports had ruled out a takeover bid in February when it bought a stake in Footasylum
Footasylum sprints higher as JD confirms plans to build 29.9% stake in struggling rival
JD has taken an 8.3% stake in its retail rival, but it told the market on Monday that it is prepared to take that up to 29.9% over the coming months
Berenberg upgrades DFS to ‘buy’ from ‘hold’ after raising its target price for sofa stores firm
Berenberg analysts pointed out that DFS’s like-for-like sales turned positive across all brands in the first-half of the current year and think its profit forecasts are underpinned by M&A synergies
How JD Sports bucked the high street doom and gloom once again
Analysts reckon it’s a combination of factors, although most of thing come back to the same thing: JD sells things that today’s youth want to buy
JD Sports surges as strong Christmas trading boosts earnings outlook
The FTSE 250 sportswear retailer that total sales growth for the 48 weeks to 5 January was up 15% while total like-for-like growth was more than 5%
Investments and investor services
FTSE 100 closes lower as Chinese data and Brexit weighs
Footsie closed down over 63 points at 6,855 on the day
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Brexit, UK inflation the main focus but retail and housebuilder updates continue to flow
Aside from the Brexit merry-go-round, the Week Ahead will bring UK inflation and retail sales numbers, plus updates from the likes of AB Foods, Persimmon, Bovis Homes, and Whitbread
Peel Hunt spotlights 29 stocks with potential to double on 2-3 year view including Base Resources, Eland O&G, Motif Bio, Circassia
The City broker’s analysts pointed out that December is often a time for winding down and celebrating but with the FTSE All Share looking set to record its worst annual performance since 2008 the festive spirit is a little short this year
UK sportswear retailers: Pick JD Sports over “unloved” Sports Direct, says Berenberg
Berenberg analysts think Sports Direct will be pushed to the side by the likes of Nike and Adidas, while they are unconvinced by the ‘Selfridges of Sport’ ambition
Sports Direct new frontrunner to buy Evans Cycles after reports Halfords has dropped out
Citing sources, Sky News’ website said Halfords - which offered to buy Evans last month - had ended talks with the private equity-owned firm's advisers