U.K.-based JD Sports Fashion plc, the parent of the Hibbett, Finish Line, DTLR, and Shoe Palace retail brands, reported plans to repurchase up to £200 million ($270 mm) in stock. The retailer said the move is “in line with the company’s capital allocation priorities and its commitment to continue delivering significant cash returns to shareholders.”
The company program is effective immediately and initially involves the purchase of ordinary shares with an aggregate value of up to £100 million, no later than the close of the company’s fiscal first half ended July 31, 2026. Thereafter, the company intends to enter into arrangements to commence a second tranche of the program in an amount up to £100 million.
BofA Securities will manage sales of the first tranche on the company’s behalf.
In recent periods, the company’s share price has struggled as the retailer reduced its fiscal-year forecast last November due to market pressures in its home market, the U.K.
As of the close of Friday, February 20, shares were down over 50 percent over five years, almost 5 percent over the past year and nearly 9 percent this calendar year alone.
Image courtesy JD Sports Fashion plc
