A bigger rise in quarterly sales at Nike than analysts had expected sent shares in JD Sports Fashion to the top of the FTSE 250. JD Sports has been caught in the wider sell-off in British retail stocks over the past two months as a string of companies including Asos, Superdry and Bonmarché have issued profit warnings. JD Sports shares have fallen by about 30 per cent in that period, despite it reporting another period of record trading in September. The company, founded in 1981 in Bury, has challenged Sports Direct to become Britain’s top “athleisure” retailer. Part of its success comes from its development of exclusive product agreements with brands such as Nike and…

Source: The Times December 22, 2018 00:04 UTC