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New chief exec shakes up JJB Sports

Chris Ronnie's appointment as chief executive at JJB Sports sparked talk over the group's future direction.

City and sportswear insiders believe new licences and additional marketing are likely, as well as more own label. Most ruled out a break-up of the business.

Ronnie, who bought a majority stake in JJB Sports last month backed by Icelandic investor Exista, will replace Tom Knight, who has stepped down. Former Next chairman David Jones will join the board as non-executive director. Shares fell 6.75p to 211.25p.

Rival Sports Direct hit the headlines again this week after investment bank Morgan Stanley said it had not been given enough information for a confident valuation. Pali International analyst Nick Bubb suggested Ashley could try to take the company private again. Shares recovered slightly during the week but were still down 7.5p to 141.5p.

Debenhams' stock was on the rise after chairman John Lovering and chief executive Rob Templeman bought shares last week. The share price was up 6.25p to 127.25p.

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