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Britain Fines JD Sports, Footasylum $6.4 Million for Breaching Order

JD Sports store.
JD Sports store. (Shutterstock)

Britain fined the country’s largest sportswear retailers JD Sports and Footasylum on Monday a combined 4.7 million pounds ($6.4 million) for breaching an order that prevented both the merged firms from integrating further.

The Competition and Markets Authority (CMA), which had last year ordered JD to unwind its purchase of Footasylum due to competition concerns, said the two companies had exchanged commercially sensitive information in breach of its order.

By Sachin Ravikumar; Editing by Sherry Jacob-Phillips

Learn more:

JD Sports Lifts Outlook as Shoppers Splash Out on Sportswear

JD Sports Fashion raised its annual profit forecast for the second time in four months on Wednesday as shoppers splashed out on sportswear during the holidays and US consumers spent their stimulus cheques on the latest trends.

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