JD Sports completes acquisition of Sport Zone
06 Feb 18 1 min read
"We are delighted that this transaction, which gives us a significantly enhanced presence across Iberia, has now formally completed. The financial benefit derived from Sport Zone will depend on how quickly we can deal with the store portfolio, rejuvenate the offer and realise the necessary cost reductions and synergies. We therefore do not anticipate that the acquisition will be immediately earnings enhancing," said Peter Cowgill, executive chairman of JD.
"However, we remain firm in our belief that, utilising the skills of the very experienced and knowledgeable management team at Sport Zone and our own expertise, there are significant opportunities to improve operational efficiencies and profitability over the longer term across the enlarged Iberian business," concluded Cowgill. (RR)
Fibre2Fashion News Desk – India
Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.