Sports Direct makes US substitutions

Clothing retailer Sports Direct International (LON:SDI) has announced that it has bought an additional 8.6% stake in US outfit Iconix Brands. The company had previously stated that it held 8.9% in April.

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Management also said that the firm had fully disposed of its 19.3% share in US sportswear retailer Finish Line after UK rival JD Sports bought the chain. Shares in Sports Direct had risen by 0.47% to 403.30p at 14:15 BST, but remain well below last week’s prices.