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Sports Direct - Aquires plum JJB assets

November 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SPD
  • Price:
  • 411p
In our main write-up last month we anticipated that Sports Direct was in the box seat to cherry pick the best assets from now defunct rival, JJB Sports. And so it has proved with Sports Direct announcing on 1 October that it has acquired certain of the trade, assets and product brands from JJB's administrators for £23.8m cash. The group will acquire 20 stores, along with substantially all of the stock in the business as well as the Slazenger Golf brand licences and JJB's freehold property in Wigan. In reaction Goldman Sachs has upgraded its forecasts for year to April '13 from 25.6p to 28.3p with 2014 upped from 28.9p to 32.4p and 2015 from 35p to 39p. It has also added Sports Direct to its “conviction buy†list while upping i ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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