UK retailer Sports Direct reveals 14.4% stake in Iconix
Sports Direct International , a UK apparel and accessories retailer, disclosed a 14.4% stake in Iconix Brand Group Inc. in an SEC filing on Thursday. Sports Direct owns 6.98 million Iconix shares. Iconix brands include London Fog, Madonna's Material Girl brand, home design company Royal Velvet and luxury brand Badgley Mischka. The filing is the second amendment to a previous filing. The first amendment was on Jan. 13, in which Sports Direct said it had an 11.52% stake in Iconix. Sports Direct purchased more than a million shares between Jan. 13 and Jan. 20. Sports Direct has made headlines for allegations that it underpaid and mistreated workers and is embroiled in a legal battle with the Rangers football club, according to The Guardian. Sports Direct shares are down 44.5% for the past 12 months. Iconix is down 84.3% for the same period. The S&P is down 7.1% over the past year.
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