The U.K.’s Competition and Markets Authority has determined that last year’s £90 million acquisition of Footasylum is anticompetitive and likely to result in higher prices and worse service for consumers. The CMA’s research over the course of its 12 month review found that the two retailers were each other’s closest competitors for high-end sneakers from brands like Nike and Adidas. Based on its investigation, it decided to block the deal to protect customers, while acknowledging that the coronavirus pandemic is putting all retailers under pressure right now.

JD Sports blasted the ruling as being out of touch with the “dynamic and ... Log in to view full article.