Consolidation in the sportswear market

Sports and leisurewear retailer John David Group (JD) has
acquired Bank Stores from Phoenix Equity Partners for £18.5
million. Bank has a chain of 49 stores and a nontransactional
website. JD Group has more than 400 stores along with a
transactional website.

JD Group also announced the acquisition of 49 per cent of Focus
Group Holdings, a sourcing and distribution company of branded
and own-brand footwear, apparel and accessories.

Meanwhile JD Group rival JJB Sports has acquired the Original
Shoe Company from Sports Direct International for £5
million. Sports Direct recently unveiled
“disappointing” interims for the 26 weeks to 28
October 2007. Underlying profit before tax was down 35 per cent,
to £52.0 million, and UK sales were down 7 per cent to
£668.1 million, due in large part to “unprecedented
weather conditions”. JJB has more than 400 stores as well
as an eCommerce site, while Original Shoe has 60 stores. JJB
plans to convert some of its smaller shops to Original Shoe


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