Finish Line agrees to $558M sale to JD Sports Fashion

Published on

March 28, 2018

AUTHOR

Damian Delgado

Finish Line has agreed to sell itself to a United Kingdom-based sportswear company that was trying to get a foot in the US. Finish Line has made the move to try and save its slumping apparel line.

JD Sports Fashion has reached a deal to take over the Indianapolis-based Finish Line for around $558 million. Finish Line has 556 stores, as well as branded floor space in 375 Macy’s locations. The company has around 13,000 employees.

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Finish Line has been struggling for some time in the declining mall foot traffic. Sales at stores open at least a year have gone down 7.9% in the company’s fourth quarter, Finish Line has stated Monday.

The environment was “more challenging than we expected,” CEO Sam Sato said in a statement.

JD Sports Fashion and Finish Line will now combine into “”a leading global, premium, a multichannel retailer of sports, fashion and outdoor brands who embraces the latest online and in-store digital technology,” Finish Line said in a statement.

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