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JD Sports Fashion Plc Says Exploring Additional Funding Options

JD Sports Fashion Plc Says Exploring Additional Funding Options
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JD Sports Fashion Plc Says Exploring Additional Funding Options

JD Sports Fashion Plc Says Exploring Additional Funding Options

JD Sports Fashion Plc confirmed on Tuesday that it was exploring additional funding options which may involve a non-equity placing, as it looks to increase its flexibility to invest in future strategic opportunities.

The announcement comes a day after Sky News reported here JD Sports Fashion was in talks about a 400 million pound ($545.56 million) share sale, and was considering to launch the placement as early as this week.

Last month, JD bought Shoe Palace for $325 million in cash to expand its business on the US West Coast, Reuters reported.

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Adidas Reports Fourth-Quarter Sales and Profitability Gains

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
TT
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Adidas Reports Fourth-Quarter Sales and Profitability Gains

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)

Adidas reported what it said were better than expected preliminary fourth-quarter results on Tuesday, with strong sales and profitability for the important holiday shopping period.

The German sports equipment and apparel company said revenue was up 19% year on year in currency neutral terms while its gross margin increased by 5.2 percentage points to 49.8%.

Adidas reported sales of 5.956 billion euros ($6.2 billion) for the quarter, up from 4.812 billion a year ago.

For the full year, Adidas said revenue was up 12% in currency-neutral terms, hitting 23.683 billion euros ($24.7 billion). Profitability improved with the gross margin rising by 3.3 percentage points to 50.8%.