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☆ JD Sports to buy U.S. rival Hibbett in $1.08 billion sportswear retail deal
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

(Photo by May James/SOPA Images/LightRocket via Getty Images)JD Sports Fashion has proposed to buy American athletic fashion retailer Hibbett Inc for about $1.08 billion, the companies said on Tuesday, as Britain's biggest sportswear retailer looks to expand across the southeastern U.S. The deal comes as shares in athletic clothing retailers come under pressure globally after weak outlooks from sports apparel makers such as Nike and Puma. It will pay $87.50 per Hibbett share in cash, representing a premium of about 20% to the U.S. firm's last closing price. JD Sports shares, which have fallen more than 20% so far this year, were up 6% by 0900 GMT. The deal is expected to add to the British firm's earnings in the first full year of ownership, with cost savings expected to be at least $25 million, JD said.

Persons: May James, Foot Locker, Dominic Platt, JD Organizations: UNITED, Getty, Hibbett Inc, Nike, Puma, Adidas, JD Sports, Paris Olympics Locations: UNITED KINGDOM, England, premarket U.S, U.S, North America, Bury, Greater Manchester

☆ Positive open expected for European stocks as the region's markets bounce back
▼ + stars: | 2024-03-28 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a positive open Thursday, bouncing back from lackluster momentum earlier this week. Regional stocks closed slightly higher Wednesday, regaining steam after a subdued start to the session. On Thursday, investors will be keeping an eye out for earnings from Lloyd's of London and JD Sports Fashion will issue a trading update. German unemployment data and Italian consumer confidence data for March are due. Overnight in the Asia-Pacific region, Japan stocks fell the most among Asian markets Thursday, while Australian stocks hit a record high, helped by a boost from mining shares.

Organizations: London, JD Locations: Asia, Pacific, Japan

☆ Under Armour shares jump after it raises profit expectations amid sliding sales
▼ + stars: | 2024-02-08 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Under Armour said Thursday that its holiday-quarter sales slowed, but its earnings beat estimates as the athletic apparel retailer worked to rein in costs. Under Armour now anticipates full-year sales will decline slightly more than it previously expected. During the quarter, Under Armour's wholesale revenue, which accounts for about 60% of sales, dropped 13% to $712 million. Like its peers, Under Armour has been working to expand its sales directly to consumers through its stores and website. During the quarter, Under Armour saw those direct sales rise 4% to $741 million, driven by a 5% uptick in store revenue and a 2% jump in digital sales.

Persons: Armour, Stephanie Linnartz Organizations: LSEG, Partners, Sporting Goods, Kohl's, JD Sports Locations: Houston , Texas, North America

☆ I'm a 26-year-old HENRY. I'm in the top 1% of earners and a homeowner — I won't be happy until I'm completely financially free.
▼ + stars: | 2024-01-19 | by ( Ryan S. Gladwin | ) www.businessinsider.com time to read: +7 min

Working in the tech industry as a data analyst, Ruan purchased a £450,000 apartment in London. AdvertisementThis as-told-to essay is based on a transcribed conversation with Ben Ruan, a data analyst living in London. Job-hopping meant I could put a house deposit down by 26Ben Ruan's living room in his central London apartment Ben RuanWhenever I work at a company, I ask myself: Am I learning? AdvertisementThe kitchen in Ruan's London apartment. AdvertisementWhile I'm not rich yet, I believe I'll be where I want to be in five years.

Persons: Ben Ruan, Ruan, —, Ben Ruan's, I'm, Banks, Ben Ruan I, Spencer, Ben Ruan I'm, homeownership, I've, HENRY Organizations: Service, Business, Coventry University, Big Tech, JD, Mercedes, Benz, Asda, Aldi, Waitrose Locations: London, Snapchat, Wavemaker, Central London, Ruan's London

☆ These 3 stocks could rally by another 50%, analysts say, despite big jumps this year
▼ + stars: | 2023-12-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Three stocks — Liberty Broadband , U.K.'s BT Group and JD Sports Fashion — have risen by double-digit percentages this year. Liberty Broadband Liberty Broadband is a telecommunication holding company that has an ownership interest in Charter Communications, the second-largest cable operator in the United States. The consensus price target of analysts polled by FactSet points to a 55% upside potential for Liberty Broadband shares from the current share price of $82. Deutsche Bank views Liberty Broadband as an attractive way to invest in Charter, estimating it trades at a 32% discount to net asset value (NAV). BT.A-GB YTD line Their price target of 220 pence implies an additional 79% share price increase over the next year from the current share price of 123 pence.

Persons: FactSet, Bryan Kraft, Benjamin Soff, Morgan Stanley, Openreach, Terence Tsui, Kate Calvert, Calvert, JD, Michael Bloom Organizations: Liberty Broadband, BT Group, JD, Wall, CNBC Pro, CNBC Pro Stock, Liberty Broadband Liberty Broadband, Charter Communications, Deutsche Bank, CHTR, BT, JD Sports, North America, Dick's Sporting Goods Locations: United States, Alaska, U.K, BT.A, Europe, North, Derby, Heerlen, Netherlands, U.S

☆ UK stocks fall as real estate shares drop; economic data on tap
▼ + stars: | 2023-11-06 | by ( Shubham Batra | ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies Real estate shares top losersMelrose surges after unit signs deal with GE AerospaceFTSE 100 down 0.1%, FTSE 250 off 0.4%Nov 6 (Reuters) - UK stocks inched lower on Monday led by a drop in shares of real estate investment trusts, while investors awaited key economic data to assess the strength of the British economy. The commodity-heavy FTSE 100 (.FTSE) edged 0.1% lower, while the mid-cap index FTSE 250 (.FTMC) fell 0.4% after logging its best week in a year on Friday. Shares of real estate investment trusts (.FTNMX351020) shed 1.2% after the index tracking real estate stocks rose sharply last week. Other economic data this week includes housing prices, construction and services activity for October. Reporting by Shubham Batra in Bengaluru; Editing by Varun H K and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Sanjay Raja, Andrew Bailey, Shubham Batra, Varun, Eileen Soreng Organizations: London Stock Exchange Group, City of, REUTERS, Real, Melrose, GE Aerospace FTSE, Aerospace, Melrose Industries, GKN Aerospace, GE Aerospace, Deutsche Bank, Bank of England, Wizz, Ryanair, JD Sports, Citigroup, Thomson Locations: City, City of London, Britain, Irish, Bengaluru

☆ Nike shares jump on leaner inventory, better margins outlook
▼ + stars: | 2023-09-29 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

People visit the Nike store at 5th Avenue during the holiday season in New York City, U.S., December 9, 2022. The company had turned to steep discounting to clear the excess inventory, which had weighed on its margins in the past few quarters. Nike on Thursday estimated a 100 basis point boost to current-quarter gross margin while maintaining its annual forecasts. The jump also lifted shares of Adidas, Puma and JD Sports (JD.L) between 5%-7%. Still, demand in North America remained under pressure, leading Nike to post a slight miss on first-quarter revenue.

Persons: Eduardo Munoz, Drake MacFarlane, David Swartz, Simeon Siegel, Piper Sandler, Abbie Zvejnieks, Savyata Mishra, Deborah Sophia, Sriraj Organizations: Nike, REUTERS, Science, Rivals, Adidas, Puma, Morningstar, BMO, JD Sports, Dick's Sporting, Thomson Locations: New York City, U.S, China, North America, Bengaluru

☆ UK stocks open lower after Fed's hawkish stance; BoE on watch
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The blue-chip FTSE 100 index (.FTSE) was down 0.5% by 0710 GMT, while mid-cap stocks (.FTMC) dipped 0.4%. The Fed held its interest rates steady on Wednesday, but stiffened a hawkish monetary policy stance that its officials increasingly believe can succeed in combating inflation. Asian stocks tracked the lacklustre mood in U.S. peers on Wednesday after the Fed revised its economic projections. JD Sports Fashion (JD.L) climbed nearly 6% to the top of FTSE 100 after the sportswear retailer forecast a higher annual profit.

Persons: Toby Melville, BoE, Siddarth, Sherry Jacob, Phillips Organizations: London Stock Exchange Group, City of, REUTERS, Treasury, Federal Reserve, Bank of, Fed, Bank of England, Thomson Locations: City, City of London, Britain, London, Bengaluru

☆ JD Sports CEO: We're seeing 'huge demand' from Europe
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJD Sports CEO: We're seeing 'huge demand' from EuropeRégis Schultz, CEO of JD Sports, discusses earnings and the fashion industry.

Persons: Europe Régis Schultz Organizations: JD Sports Locations: Europe

☆ Morgan Stanley names cash-rich global stocks with 'better downside protection'
▼ + stars: | 2023-08-28 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Morgan Stanley named a raft of European stocks with strong balance sheets, lots of cash or high shareholder returns. High cash flow and shareholder returns The bank also screened for companies with "resilient high free cash flow." "Self-financing companies should be better able to weather any prolonged macroeconomic weakness, deploying capital effectively and seizing opportunities that come along the way," Morgan Stanley said. "Cash-rich companies with high free cash flow yields should also have better downside protection, while providing upside potential if management is able to deploy its cash effectively," the bank said. Those firms also have "positive free cash flow and net income growth expected over the next 2 years," the bank said.

Persons: Morgan Stanley, Burberry, — CNBC's Michael Bloom Organizations: CNBC, JD Sports, Sanofi, Airbus, MTU Aero Engines, SAP, WPP, Publicis Groupe, InterContinental Locations: Europe

☆ Adidas turnaround gathers pace as Yeezy boosts margins
▼ + stars: | 2023-08-03 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +4 min

Adidas has to manage Yeezy drops very carefully, Gulden said, adding that the company's guidance was conservative. Adidas' 2023 outlook does not include the second Yeezy release, which is being sold through retailers as well as Adidas' own channels. JD Sports (JD.L) said it had started selling Yeezy shoes from the second drop on Wednesday. Citi analysts expect further Yeezy drops to generate 1.5 billion euros ($1.64 billion) in revenues and 700 million euros in earnings after Adidas' planned charity donations. Adidas donated 10 million euros in the second quarter and set aside 100 million euros for further donations to charities including the Foundation to Combat Antisemitism and the Anti-Defamation League.

Persons: Bjorn Gulden's, Ye, Gulden, Harm Ohlmeyer, Kanye West, Shannon Stapleton, Zuzanna Pusz, Pusz, Liu Qingyi, Shuting Qiu, Helen Reid, Mark Potter, Jan Harvey, Alistair Bell Organizations: FX, Adidas, JD, Citi, Foundation, Combat, Defamation League, ADIDAS, REUTERS, UBS, North, Thomson Locations: Garden City , New York, U.S, Greater China, China, Shanghai, North America

☆ Yeezy destocking helps lift Adidas sales outlook
▼ + stars: | 2023-08-03 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Sales of surplus Yeezy shoes generated around 400 million euros ($437 million) in the second quarter, helping Adidas reduce its predicted loss for the year to 450 million euros, down from the 700 million euro loss previously expected. JD Sports (JD.L) said it had started selling Yeezy products from Adidas' second release of Yeezy shoes on Wednesday. Adidas said its 2023 outlook does not include the second Yeezy release. Citi analysts expect further Yeezy drops to generate 1.5 billion euros in revenues and 700 million euros in earnings after Adidas' planned charity donations. North America was the laggard, with sales dropping 16.4% in currency-neutral terms, which Adidas put down to high inventory levels there.

Persons: Kanye West, Shannon Stapleton, Bjorn Gulden's, Ye, Cristina Fernandez, Fernandez, Gulden, Liu Qingyi, Shuting Qiu, Helen Reid, Sonali Paul, Mark Potter, Jan Harvey Organizations: Adidas, REUTERS, FX, Foundation, Combat, Defamation League, Telsey, JD, Citi, North, Thomson Locations: Garden City , New York, U.S, New York, Greater China, China, Shanghai, North America

☆ Wingstop says its UK target market is Gen Zers who like boxing and 'Love Island.' Here's how the chicken brand is using TikTok, rappers, and customization to pull in younger diners.
▼ + stars: | 2023-07-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

Wingstop UK is using TikTok, social-media influencers, and rappers to attract Gen Z diners. Wingstop UK has collaborated with brands including including Xbox, Gymshark, and Tinder. Grogan said that Wingstop UK did engage in some paid partnerships, but focused on "curating authentic experiences." Lemon Pepper opened the first Wingstop UK restaurant near London's bustling Leicester Square in 2018. Lemon Pepper HoldingsIn 2022, the chain sold more than 17.5 million wings, Lemon Pepper says.

Persons: It's, –, Zers, Tom Grogan, cofounders, Lemon Pepper, TikTok, Yung, Michael Dapaah, Lady Leisha, M, Cat Burns, Grogan, Wingstop, – Grogan, Herman Sahota, Saul Lewin –, Rick Ross, Saul Lewin, Lemon, We're, Gen, it's Organizations: Wingstop, Service, Wingstop's, Sports, Lemon Pepper Holdings, Xbox, JD Sports, Yung Filly, YouTube, KFC, Leicester Square, Hickory, Wings, Lemon Pepper, Sunday Times Locations: Wall, Silicon, Covent, Leicester, Manchester, Liverpool, Glasgow

☆ European shares rise as China optimism lifts miners
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - European shares rose on Tuesday as miners gained after hopes of more policy support from China lifted metal prices, while shares of JD Sports dipped even after the British retailer stuck to its profit forecast. The pan-European STOXX 600 index (.STOXX) was up 0.5% by 0813 GMT, after falling for six sessions in a row. China's Premier Li Qiang said the country's economic growth in the second quarter would be higher than the first and was expected to reach the annual economic growth target of around 5%. JD Sports Fashion (JD.L), however, fell 4.1% to the bottom of the STOXX 600 after the company flagged some softening in trade in its North American business in June. Reporting by Amruta Khandekar; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, Christine Lagarde, Amruta Khandekar, Rashmi Organizations: JD Sports, Miners, Prudential Plc, European Central Bank, Thomson Locations: China, Sintra

☆ This veteran investor's funds have been outperforming since 2006. Here are his top investing tips
▼ + stars: | 2023-06-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

Those are the qualities that outperforming portfolio manager Jordan Cvetanovski has looked for in stocks for the past nearly 20 years. Since its inception in 2022 to May 31, his Pella Global Generations Fund has delivered nearly 20%, outperforming its benchmark — the MSCI ACWI (the MSCI's flagship global stock index) — by 7%. As an investor, Cvetanovski, who is based in Sydney, Australia, said he invests only in his own 34-stock fund, the Pella Global Generations Fund. Investing 'won't be as simple as it was' Cvetanovski said his method of investing has stayed "exactly the same" through the years. Following sustainability criteria is one of Pella Global Generations Fund's objectives.

Persons: Jordan Cvetanovski, I've, …, Carmignac, Cvetanovski, IQVIA, there's, Tesla, EVs Organizations: CNBC Pro, Pengana International, Pengana Capital Group, Fund, Generations Fund, Pella Funds, 3i, Adobe, McLennan, Novo Nordisk, UnitedHealth Locations: Pella, Sydney, Australia, China, U.S, Europe

☆ Loving trainers: JD Sports' profit to top 1 billion pounds
▼ + stars: | 2023-05-17 | by ( James Davey | ) www.reuters.com time to read: +2 min

SummarySummary Companies Underlying profit in 2022-23 was 991.4 mln stgSales up over 15% in first 13 weeks of new yearLONDON, May 17 (Reuters) - JD Sports Fashion (JD.L) said on Wednesday it expected profit to exceed 1 billion pounds ($1.3 billion) for the first time this year as demand for trainers, joggers and hoodies from its younger shoppers keeps growing. For the first 13 weeks of its new year, JD posted organic sales growth of more than 15%. Shares in the group have increased 30% so far this year, giving it a market capitalisation of 8.8 billion pounds, more than the market value of supermarket Sainsbury's and Marks & Spencer - two stalwarts of British retailing. For its last financial year ending Jan 28, it reported profit before tax and exceptional items of 991.4 million, up from 947.2 million pounds in 2021-22. For 2023-24 it forecast 1.03 billion pounds.

☆ Consumers want to feel the energy of in-store shopping, JD Sports CEO says
▼ + stars: | 2023-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers want to feel the energy of in-store shopping, JD Sports CEO saysJD Sports CEO Régis Schultz tells CNBC's "Squawk Box Europe" consumers are demanding online and in-store shopping, as he says the company is well-placed to capitalize on post-pandemic trends.

☆ French sports deal reveals rare retail bright spot
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 9 (Reuters Breakingviews) - Retreat is the most common strategy of top retail chief executives. On Tuesday, the near-$11 billion British purveyor of sportswear splashed out 520 million euros ($571 million) on French sneaker seller Courir. Regis Schultz, JD’s French boss, is planning to spend more of the company’s 1-billion-pound ($1.3 billion) cash pile on further international expansion. Sales of exercise equipment, gym wear and running shoes are set to double to $1 trillion by 2030, according to Straits Research. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ London stocks fall on caution ahead of U.S. inflation data
▼ + stars: | 2023-05-09 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) fell 0.3% after a holiday on Monday for the official coronation of King Charles over the weekend, while the FTSE 250 midcap index (.FTMC) was down 0.7%. "Travel stocks have had a really nice run for the last few days," said Christopher Peters, trading floor manager at Accendo Markets. "From mid-April, we've seen a decline in oil prices. That has an effect on costs for the airlines and travel stocks." Energy stocks (.FTNMX601010) dipped 1.2%, as oil prices relinquished some of the strong gains of the previous two sessions ahead of U.S. inflation data due on Wednesday.

☆ The Fed warned of a looming credit crunch. Americans say it’s already arrived.
▼ + stars: | 2023-04-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

We just saw a more extreme distribution play out in the stock market, too. Just 20 names drove 90% of the gains in the S&P 500 over the first three months of the year. The Fed has been warning of tightening credit conditions since last month's handful of bank failures, but policymakers spoke as if it were some future event. Remember, a so-called credit crunch means lenders raise the bar for borrowers, and people have to meet stricter parameters to get a loan. "The credit crunch has started," Torsten Slok, chief economist at Apollo Global Management, said in response to the report.

☆ How age-old retailers like Foot Locker are boosting sales for new brands like Hoka and On
▼ + stars: | 2023-03-27 | by ( Danni Santana | ) www.businessinsider.com time to read: +4 min

Foot Locker and other sneaker retailers have learned their lesson about depending too much on Nike. Foot Locker has allocated more wall space to emerging performance running brands like On and Hoka. Foot Locker and other sneaker retailers have learned their lesson from Nike's shifting strategy. Although Nike still sells at some retailers like Foot Locker, Nike is committed to putting its own direct-to-consumer sales first. "Acquiring a 21-year-old in New Jersey is more expensive for us to do than Foot Locker because Foot Locker has kept that relationship with that consumer," On co-CEO Marc Maurer told Insider in an interview.

☆ UK's JD Sports says some customer data compromised for online orders
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

Jan 30 (Reuters) - UK's JD Sports Fashion Plc (JD.L) said on Monday it had been the target of a cyber incident, resulting in unauthorised access to customer data relating to some online orders placed between November 2018 and October 2020. The company said the affected JD Sports group brands are JD, Size?, Millets, Blacks, Scotts and MilletSport. Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Online retailer Boohoo sales drop 11% in Christmas period
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 19 (Reuters) - British online fashion retailer Boohoo (BOOH.L) said revenue fell 11% in its key Christmas trading period, hurt by delivery disruption and tough comparatives, as it broadly stuck to annual guidance. Its forecast for a 12% decline in annual revenue was slightly behind the downgraded guidance for a 10% drop it gave in September. The sales fall during the Christmas period, the four months to the end of December, was partly due to longer delivery times, said Boohoo, and its UK market, where sales were also down 11%, was against a tough comparative period, as last year, COVID-19 meant shoppers favoured online orders. Those retailers noted that store sales benefited from delivery problems in Britain, where postal strikes, made people worry about orders turning up in time. Reporting by Sarah Young; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

☆ Meet the 'zillennials,' who grew up online, live with their parents, and have retailers chasing their disposable income
▼ + stars: | 2023-01-17 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

'Zillennials' are the consumers at the cusp of the millennial and Gen Z generations. As many as 48% of zillennials live with their parents, meaning they don't pay a mortgage or rent. That means that a large share of young consumers aren't paying for rent or a mortgage. Add that to their steady income and the fact that they grew up on the internet, and zillennials are becoming savvy shoppers with plenty of disposable cash. Morgan Stanley analysts wrote recently that young consumers living with their parents are helping to fuel the luxury boom because they're saving on bills and necessities like groceries.

☆ Britain's M&S to invest $587 mln in store estate
▼ + stars: | 2023-01-16 | by ( James Davey | ) www.reuters.com time to read: +3 min

M&S's move shows the continuing importance of physical stores to retailers despite the rise of online shopping over the last two decades. Last October, M&S set out plans to accelerate what it calls its store rotation programme, delivering what was an initial five-year plan within three years by 2025-26. "Our store rotation programme is about making sure we have the right stores, in the right place, with the right space," said Machin. Twelve new M&S food halls are also planned. In addition to its owned store investment, M&S plans to extend its franchise model to expand its convenience stores offer, building on partnerships with BP, Moto, SSP and Costa.

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