30th Jun 2014 07:32
LONDON (Alliance News) - Sports Direct International PLC said Monday it is not considering an offer to acquire UK footwear retailer, OFFICE, following recent trade speculation.
The FTSE 100-listed sports retailer quashed the rumours and said that such speculation was "unhelpful to the customers, staff, suppliers and other stakeholders of both companies."
Sports Direct said it continues to focus on building brand support for the group's Premium Lifestyle format - USC / Republic. "The Board believes that maintaining strong brand relationships is a strategic priority for Sports Direct, particularly given the difficulties that the competition authorities appear to have in addressing the supply issues faced by the Group," said the company.
Shares in Sports Direct were trading 0.76% lower at 718 pence per share Monday morning, one of the biggest fallers on the FTSE 100.
By Alice Attwood; [email protected]; @AliceAtAlliance
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