JD Sports to acquire The Finish Line
27/03/2018
Finish Line’s most recent full-year results showed revenues of $1.84 billion and earnings of $54 million. It runs 556 retail stores in 44 US states and Puerto Rico and is also the exclusive retailer of athletic shoes, both in-store and online, for department store group Macy’s. It employs 3,700 people full-time and also has 9,300 part-time staff.
JD Sports said one of the reasons it wants to carry out this acquisition is to “increase the importance of the company” to major international brands. Executive chairman, Peter Cowgill, said: “This is a landmark day for JD and will be transformational for the business.” The companies expect the deal to be complete in June or in the second half of 2018.
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