The U.K.’s Competition and Markets Authority said in a preliminary ruling that JD’s acquisition of the 70-store Footasylum chain could result in fewer discounts and less choice in stores and online for consumers. JD has until a Feb. 25 deadline to present a plan to address the CMA’s concerns, or it could be forced to divest Footasylum. The CMA will make a final decision by May 11. The acquisition closed last April, with JD paying £90.1 million ($119.8 mm) for the smaller footwear retailer. Sports Direct’s CEO Mike Ashley, who is surely happy with the ruling against his competitor, was ... Log in to view full article.