JD Sports fined $1.6 million by UK regulator over merchandise pricing

Published 09/27/2022, 03:23 AM
Updated 09/27/2022, 03:25 AM
© Reuters. FILE PHOTO: JD Sports logo is seen on the exterior of a store in London, Britain, November 17, 2021. REUTERS/May James/
JD
-

(Reuters) - JD (NASDAQ:JD) Sports said on Tuesday that it was fined about 1.5 million pounds ($1.6 million) by Britain's competition regulator after an investigation into retail prices of certain branded clothing products of the Rangers Football Club was completed.

The Competition and Markets Authority (CMA) had in June provisionally found that JD Sports, Britain's biggest sportswear retailer, and rival Elite Sports had colluded to fix the retail prices of a number of Rangers-branded replica kits and other clothing products.

The CMA had determined the final penalty at a "substantial" discount after it co-operated during the watchdog's investigation, JD Sports said in a statement. The company would not appeal against the fine, it added.

© Reuters. FILE PHOTO: JD Sports logo is seen on the exterior of a store in London, Britain, November 17, 2021. REUTERS/May James/

JD Sports had in June set aside 2 million pounds for a potential fine and legal costs.

($1 = 0.9256 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.