Sports Direct jogs higher after Asics announces store partnership

Mike Ashley-owned sportswear chain SportsDirect was 3.44% higher in afternoon trade on Tuesday after Japanese footwear brand Asics announced a new partnership with the FTSE 250-listed company.

As part of Sports Direct’s new premium stores, Asics will operate within the shops in its own right in order to take advantage of the high volume of traffic.

Speaking with The Daily Telegraph, Asics’ European chief executive Alistair Cameron said “it is an Asics store in a high-traffic location.”

“We will manage the space, the inventory and the product flow to enable us to basically guarantee an elevated brand position,” he added.

Sports Direct was one of the highest movers in the FTSE 250, gaining 3.37% to 411.10 as of 16:00 BST.