JD Sports To Buy Hibbett In $1 Billion U.S. Expansion Deal

JD Sports CEO Regis Schultz has set out an ambitious growth plan for the sports retailer.World Retail Congress/Gomes PhotographyThe U.K.’s biggest sportswear retailer JD Sports Fashion is to buy Alabama-based athletic fashion retailer Hibbett Inc. for about $1.08 billion, the companies said Tuesday.As JD Sports looks to grow its presence across the south-eastern U.S., it confirmed that it will pay $87.50 per Hibbett share in cash, representing a premium of about 20% to the U.S. firm's last closing price.The ...