Sports Direct has claimed the Competition and Markets Authority (CMA) has published “inaccurate estimates” of its market share data during its investigation into of competitors JD Sports’ £90m takeover of Footasylum.
In a statement published on the London Stock Exchange, Sports Direct said it had noted that during the CMA’s decision to move its investigation to phase two, the CMA acknowledged that Sports Direct has a “differentiated product offering” from JD Sports and Footasylum and has experienced a “lack of access to SMUs/exclusive and/or high-end/premium products”.
However the company claims this “overestimates” Sports Direct’s share of the supply of “sports-inspired casual apparel and also footwear”, both on an in-store and online basis, adding the CMA “wrongly suggest” it would have a comparable share of supply to JD Sports and Footasylum.
Sports Direct said it does not have a “meaningful, if any”, presence in these markets and that it “welcomes” the opportunity for these percentages to be corrected during the course of the CMA’s Phase II investigation.
Mike Ashley CEO of Sport Direct said: “I have been watching this from the side lines to date and now having had the opportunity of considering the CMA decision, I would now welcome the opportunity to provide the CMA with the correct market data. For example, our market share of Adidas Originals in Sports Direct is virtually zero.”