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JD Sports Fashion PLC - Manchester, England-based sportswear retailer - Completes acquisition of Hibbett Inc, after Hibbett shareholders voted in favour and all other conditions were met. JD Sports had announced the $1.08 billion acquisition of Nasdaq-listed Hibbett back in April. The Birmingham, Alabama-based retailer operates 1,169 sports fashion stores across 36 US states, mainly under the Hibbett and City Gear brands. In the financial year that ended February 3, Hibbett recorded $131.6 million in pretax profit on $1.73 billion in net sales. ‘The completion of our acquisition of Hibbett is an important strategic milestone for us in North America, and we look forward to working with its experienced management team to deliver on our growth plans in the largest sportswear market in the world,’ says JD Sports Chief Executive Officer Regis Schultz. Current stock price: 123.42 pence, up 3.5% in London on Friday 12-month change: down 20% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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