LONDON Feb 20 British retailer JD Sports
Fashion is set to make its first move into the
Netherlands after opening talks to take on a handful of
properties there, two sources familiar with the matter told
JD, which sells clothing and footwear from brands including
Nike and Adidas, is in talks to acquire
around 15 leases from Dutch men's fashion firm Setpoint, the
One source said the deal, which is likely to be at a low
cost to the group, was still subject to talks with landlords.
JD Sports declined to comment and Setpoint was not available
JD, which has the majority of its roughly 900 stores in
Britain, sees a larger overseas portfolio as a key part of its
growth strategy and has opened in France, Ireland and Spain
through acquisitions in recent years.
It has also been on the acquisition trail at home, buying
both British online shoe firm Cloggs and men's fashion retailer
Gio Goi out of administration this month for undisclosed sums.
Last year the firm paid 20 million pounds to bring outdoor
clothing retailer Blacks Leisure out of administration and has
been busy pulling the business into shape since.
In January the group said one-off losses related to that
purchase would push full-year group pretax profit to the low end
of expectations - around 60 million pounds.
Shares in the group closed at 803 pence on Tuesday, valuing
the business at around 600 million pounds ($927 million).