×
148
Fashion Jobs
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Application Security Architecture Consultant, India - Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
MASAR GROUP
IT Support
Permanent · DUBAI
NIKE
Sap Security Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
TLM CONSULTANCY
Merchandising Assistant
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
PR Assistant
Internship · MUMBAI
NIKE
Senior Dev Ops Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
OUTHOUSE JEWELLERY
Communication Designer
Permanent · MUMBAI
OUTHOUSE JEWELLERY
Store Manager
Permanent · NEW DELHI
NIKE
Senior Sap Application Engineer- Sec Tech, Icc - India
Permanent · Bengaluru
MAC
Make up Artist - Mac - Nykaa Pacific Rajori
Permanent · Delhi
Translated by
Nicola Mira
Published
Apr 19, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sports Direct acquires 7.9% stake in US sport retailer Finish Line

Translated by
Nicola Mira
Published
Apr 19, 2017

Sports Direct is busy shopping for retail brands. After recently purchasing British lingerie label Agent Provocateur, Mike Ashley's UK-based group has now invested on the other side of the Atlantic. Between 30th March and 13th April, the sport and fashion distribution giant has purchased nearly 3.2 million shares in Finish Line, according to the documentation registered with the US stock exchange regulatory authorities. The operation gives Sport Direct a 7.9% stake in the group, a major player in sporting goods distribution in the USA.



Finish Line operates nearly one thousand stores in the USA - Finish Line


Sports Direct International has been busy acquiring minority stakes in sport and fashion names since 2014, among them Findel, French Connection and Mysale. But the group's most significant moves involved acquiring an interest in UK consumer goods distribution goliaths Tesco and Debenhams. For the time being however, Sport Direct's senior management has not taken an active role in their businesses.

Buying a stake in a major US sport goods retailer is no trivial matter, as Sports Direct has become the fifth-largest shareholder for Finish Line. Still, given the fraught situation of brick-and-mortar retailing in general in the USA, it is hard to find a clue to the strategic drivers for the operation, and Sports Direct’s management has not commented on this yet.

In the fiscal year closed at the end of February, Finish Line posted a 2.5% sales rise, reaching $1.84 billion (€1.73 billion), though comparable sales only grew by 0.3%. Operating income instead rose from $42 million to $54 million. The group currently operates 950 retail outlets, between its directly owned stores and a presence inside Macy's department stores.

 

Copyright © 2021 FashionNetwork.com All rights reserved.