Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Peter Cowgill, director of JD Sports, has taken £21m after selling 10 million company shares.
The news comes after the retailer revealed it expects full-year profits of at least £875m following a successful black friday and Christmas period, which the firm accredited to the fiscal stimulus in the United States in the first half of the year, contributing up to £100m to this result.
It revealed Cowgill disposed of these ordinary shares at an average price of 213.2p per share. Following this disposal, he now holds a 0.19% stake in the company with 9.7 million shares.
JD Sports offered no reason for the share disposal in its statement following the transaction.
According to the retailer, JD Sports’ shares fell 7% to 196.50p on Thursday (13 January) following the news of Cowgill’s stock share sale.
The company said it is “well placed” to manage the ongoing challenges with operational restrictions and supply of inventory across Europe and Southeast Asia due to the pandemic
