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JD Sports - Mulling a bid for JJB Sports

February 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

JD has begun to flex its financial muscle. During the month it bought Champion Sports for £17.1m on a debt free basis. Founded in 1992 Champion is a sports apparel and footwear retailer in the Republic of Ireland with 22 stores. Prior to this acquisition, JD had a limited presence in the region with only eight stores.For the year ended 31 December 2009, Champion had Eu54.0m sales and made an operating loss of Eu1.8m but the business has been adversely impacted by the decline in the Irish economy and an inflexible fixed property cost base. The deal is however small and expected to be eps enhancing in due course.Separately JD also announced that it is interested in bidding for an even bigger mess, which is JJB Sports (J ...

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