REG - JD Sports Fashion - JD Sports Fashion Plc Response to CMA Announcement

JD Sports FashionAnnouncement

07/06/2022 08:00

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RNS Number : 9628N  JD Sports Fashion Plc  07 June 2022

7 June 2022

JD Sports Fashion Plc

Response to CMA Announcement

 

JD Sports Fashion Plc ("JD" or "Group") notes the press release issued by the
Competition and Markets Authority ("CMA") earlier today with regards to its
ongoing investigation into the suspected breaches of competition law by the
following entities and their affiliates: The Rangers Football Club Limited,
LBJ Sports Apparel Limited (trading as Elite Sports) and JD Sports Fashion
Plc.

JD can confirm that it has, today, also received a Provisional Statement of
Objections and a Draft Penalty Notice from the CMA. The CMA's findings are, at
this stage, only provisional and the Group will now review them with its
advisers. The CMA will consider any representations that are made before
issuing its final findings. As the CMA has noted, JD has co-operated fully
with the CMA and, provided this continues, JD will receive a reduction on any
financial penalties that the CMA may decide to impose.

Based on the information available to it at this time, the Group intends to
recognise a provision of approximately £2 million in its financial statements
for the 52 weeks to 29 January 2022 representing the Group's best estimate of
the liability payable in respect of this matter, including associated legal
costs. The Group expects to release its final results for this period,
incorporating this provision, shortly.

 

Enquiries:

 

JD Sports Fashion
Plc                                                                Tel:
0161 767 1000

Neil Greenhalgh

 

Finsbury Glover Hering
                        Tel: 020 7251 3801

Rollo
Head

Jenny Davey

James Thompson

 

 

 

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