The Competition and Markets Authority (the “CMA”) has on Wednesday the 6th May published its final report in which it announced its decision that the JD Sports / Footasylum transaction raises competition concerns, and has ordered JD Sports to sell Footasylum. This will trigger a process to find a suitable owner for Footasylum.
We are extremely disappointed with the CMA’s decision. We believe that the transaction would have resulted in Footasylum and JD Sports, as part of the same group, being able to offer greater benefits to customers and that Footasylum would have brought additional strengths to JD Sports through its compelling customer proposition. However, we have every confidence in the future prospects for Footasylum as a standalone entity given the strength of our supplier relationships, our outstanding collection of own and third-party brands, and the resilience of the business and our colleagues in these hugely challenging times.
Executive Chairman & CEO