JD Sports enters USA market with £400m deal for Macy's partner

Robyn Valdez
March 27, 2018

Shares in JD Sports reportedly jumped as much as 3.9% in early trading following today's announcement, while Finish Line shares jumped as much as 30 percent to $13.74 in early trading, according to Bloomberg. State Street Corp increased its position in shares of Finish Line by 6.5% during the 2nd quarter. Using market capitalization to show the size of a company is important because company size is a basic determinant of various characteristics in which investors are interested, including risk.

The Finish Line made revenues of $1.84bn and profit before tax of $54m in the year to end-February in a USA market that JD has long identified as "key expansion target" to maintain its growth strategy. PJ SOLOMON served as lead financial advisor, Houlihan Lokey Capital, Inc. served as financial advisor and Faegre Baker Daniels LLP served as legal counsel to Finish Line's Special Committee of the Board of Directors in connection with this transaction. Aperio Group LLC grew its position in Finish Line by 72.2% during the 3rd quarter. The firm has a market cap of $399.23, a price-to-earnings ratio of -37.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. BNP Paribas Arbitrage SA now owns 44,947 shares of the specialty retailer's stock worth $541,000 after acquiring an additional 9,252 shares during the last quarter. Municipal Employees Retirement System of MI now owns 25,960 shares of the specialty retailer's stock worth $312,000 after acquiring an additional 5,570 shares during the last quarter.

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Finish Line also reported its preliminary fourth quarter results for the 14-weeks ending March 3 on Monday.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. The correct version of this story can be viewed at https://www.thelincolnianonline.com/2018/03/26/brokerages-expect-finish-line-inc-finl-will-post-quarterly-sales-of-575-11-million.html. If you are reading this article on another site, it was illegally copied and republished in violation of US and global copyright & trademark laws. The original version of this piece can be read at https://weekherald.com/2018/03/26/finish-line-finl-downgraded-by-susquehanna-bancshares-to-neutral.html.

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The Finish Line, Inc is a specialty retailer.

JD was founded in 1981 in Bury, Greater Manchester, and has seen off rivals including Sports Direct and JJB Sports, which collapsed in 2012, to become Britain's largest sports retailer by market value.

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Headquartered in Indianapolis, Finish Line trades from 556 branded retail stores across 44 U.S. states and Puerto Rico in addition to a well-established multi-channel offering.

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