When I think about TCW Flexible Income ETF (FLXR) I think about an income-oriented fund that can concretely stimulate the expected return function of the bond component of a portfolio without excessively raising the risk function.
And it does so with a portfolio that for almost 50% cannot be covered by classic bond ETFs. This makes it interesting, but from a certain point of view, also difficult to interpret.
Intro and Definition
The fund is domiciled in the TCW ETF Trust and is an active multi-sector fixed income ETF classified as Multisector Bond born in 2018 as a mutual fund, then converted into an ETF and listed on the NYSE on June 24, 2024 with today an AUM exceeding $3.2 billion. It moves with a primary objective of obtaining a high level of current income and as a secondary objective, long-term capital appreciation. To calibrate on results, the declared benchmark is the classic Bloomberg U.S. Aggregate Bond Index; this is used as a reference for comparative metrics, but the fund systematically invests outside the index universe.
Advertisement
FLXR – fund profile (Seeking Alpha)
The expense ratio is not negligible for a bond ETF: it is 0.40%, decisively higher than fully passive aggregate solutions, to which a 0.05% average bid-ask spread is added. To put it in perspective, compared to BND there are overall 37 bps of cost spread; that is not nothing.
FLXR – expense grade (Seeking Alpha)
Not by chance does it have a 30-Day SEC Yield of 5.63% and a yield-to-worst of 6.75% distributed monthly, with a risk profile that, however, structurally leans toward IG/securitized. Of course, the yield will change relative to various interest rate environments in the future.
Advertisement
The fund qualifies as a Regulated Investment Company (RIC) under U.S. regulations, avoiding taxation at the corporate level on the condition of timely distributing income. For this reason, distributions are taxed as ordinary income or long-term capital gains.
FLXR – dividend grade (Seeking Alpha)
How Is FLXR Built?
It has 1,624 securities as of March 31, 2026 with a turnover of 295%. No single position exceeds 1% of the portfolio, with the exception of some positions in MBS and Treasuries that by structural nature can be more concentrated. The granularity of the portfolio is extreme: with 1,624 lines, the idiosyncratic risk on a single issuer is almost zeroed out. The implication is that drawdowns do not derive from credit events on individual issuers but from systemic spread or rate movements across entire segments.
FLXR – allocation vs benchmark (Author)
Advertisement
The table reveals the true architecture of the portfolio: FLXR is fundamentally a securitized + credit fund with almost zero government exposure (0.85% vs. 46.81% of the index). Specifically, the underweight on Government bonds of almost 46% is the most radical structural choice of the fund and explains why its behavior is structurally different from any traditional bond ETF. At the rating level, there is a tilt toward AA and BBB (or lower, especially BB and B).
FLXR quality mix vs benchmark (Author)
The result? An Effective Duration of 3.03 years, an Average Maturity of 6.19 years, and a negative convexity of 0.38. At least these are the figures that emerged from my reworking of the shared data.
FLXR metrics (Author)
Advertisement
What Does FLXR Do?
Its shorter duration (3.03 years) results in lower sensitivity to rate movements compared to the benchmark. At the same time, it must be said that the negative convexity (-0.38) is not usual for aggregate bond portfolios, which pairs well with a core portfolio of positive convexity on the traditional aggregate bond segment. So it interfaces well in a diversified portfolio while still operating in the American bond market, but with a clear deliberate preference for those segments that large passive indices ignore. Not by chance, FLXR invests over 48% in hard-to-access segments, such as non-government-guaranteed securitized mortgages (Non-Agency MBS), asset-backed securities like residential rentals and data centers (ABS), securitized commercial real estate (CMBS), high-yield corporate bonds, emerging markets.
The management team works on two simultaneous levels: how much rate risk to take on, which bond sectors offer the best risk-adjusted return at any given moment, and how much to hold of riskier bonds versus safer ones.
At the operational level, it selects individual securities, enters positions gradually.
How? The approach is explicitly opportunistic and counter-cyclical: the team tends to increase exposure to riskier segments precisely when the market is selling them.
Advertisement
Who Is FLXR For?
This process produces a quite respectable monthly dividend in the speculative bond landscape. The current annualized yield (30-day SEC Yield) is 5.63%, with a Yield-to-Worst of 6.75%.
FLXR – yield (Seeking Alpha)
For comparison, pure investment-grade bond funds yield today around 4-4.6%, while pure high-yield funds reach 6.5-7% but with almost double the volatility compared to FLXR. And it is therefore clear that it presents itself as a fund targeting the investor looking for a distributed income stream.
But be careful; it is not a pure defensive instrument. Rather, it’s an instrument that would almost seem to adapt as a bond satellite in a diversified portfolio, with the specific function of generating high and stable monthly income with a deliberately contained sensitivity to interest rates (duration 3 years, almost half of the broad bond market). To take stock of the situation, FLXR seems built for an investor who wants a high and steady monthly income, is willing to accept an underlying complexity that cannot be directly controlled, and has an investment horizon of at least 2-3 years that allows them to navigate any phases of volatility without having to liquidate the position at the worst moments.
Advertisement
Peer Comparison
We are therefore in the macro-category of supplementary funds for a core component, and there are some managers that are standing out quite a bit. Personally, I would include the active managers of the iShares Flexible Income Active ETF (BINC), the JPMorgan Income ETF (JPIE), and the Angel Oak Income ETF (CARY).
FLXR – peer comparison (Seeking Alpha)
BINC is exposed to similar segments, both active multi-sector with exposures to MBS, ABS, CMBS, and HY. Then it must be said that BINC has different weights in sectoral allocations, with less emphasis on the Non-Agency MBS segment. JPIE instead is another active manager that tries to cover, albeit partially and more tilted toward quality ratings, the segment of FLXR. And I would put CARY on the same level. It is curious to note how since launch, FLXR has been able to maintain a competitive total return, albeit with spreads not so marked compared to peers.
Peer: total return (Seeking Alpha)
Advertisement
For a more specific comparison, it can make sense here to take a look at the ETF grades from Seeking Alpha, which, in my opinion, clearly show the differences between the ETFs. In this sense, FLXR has greater momentum, which clearly plays in favor of the active management and “market timing” we have seen. And working on “discounts” leads to lower returns (distributions), especially in a rising rate environment. Even though the spread between yields is not so marked, FLXR has a TTM yield of 5.83% per SA, while the competitor with the highest yield is CARY with 5.94%. We are talking about a few basis points.
ETF grades (Seeking Alpha)
Risks
About 37.96% of the portfolio is sub-investment grade (BB 21.96% + B 13.67% + CCC 2.33%). Credit risk is therefore not marginal: in a recession scenario with widening HY spreads, this component will suffer losses that may not be offset by the stability of Agency MBS. It must be said, though, that the Non-Agency MBS component (19.82%), CMBS (11.42%), and non-traditional ABS include assets with limited secondary liquidity. In systemic stress environments, the liquidity of these instruments dries up quickly. And the full recession test has not yet occurred during the ETF’s life as an ETF. So it is not easy to define a concrete risk dimension, even though for SA the risk grade remains A with an annualized volatility of just 2.25%.
FLXR – risk grade (Seeking Alpha)
Advertisement
Pros and Cons
There are therefore clearly positive elements that cannot be ignored:
Yield at the competitive risk/return meeting point of the bond market: From what the data seems to show, it captures a good portion of HY yield without concentrating all the risk on sub-IG bonds
Genuine diversification across 8 bond macro-categories: 1,624 holdings, no position >1% (except some MBS/Treasuries), 8 sectors simultaneously represented
Structural access to the “invisible 48%” of the U.S. bond market: The Bloomberg Agg covers 52% of the market; FLXR systematically invests in the other 48% (non-traditional ABS, Non-Agency MBS, CMBS SASB, CLO)
Short duration protects in high or rising rate environments, little price oscillation, and monthly distributed and competitive yields.
Naturally, there are also negative elements that we cannot brush past lightly:
ETF track record too short to validate the strategy in extreme scenarios
To this is added a liquidity risk in illiquid securitized assets, an underestimated tail risk
Then it is quite expensive: Expense ratio 0.40% + a portfolio turnover of 295% means implicit transaction costs (bid-ask spread on illiquid bonds, market impact) are not captured in the expense ratio and not quantified in any official material
This article answers three questions about FLXR:
How does FLXR select its securities?
What impacts FLXR’s performance?
Where can FLXR fit in a portfolio?
Editor’s note: This article is intended to provide a general overview of the ETF for educational purposes only and, unlike other articles on Seeking Alpha, does not offer an investment opinion about the ETF.
TUCSON, Ariz. — Four months after Nancy Guthrie vanished from her home in the Catalina Foothills area near Tucson, the high-profile disappearance of the 84-year-old mother of NBC “Today” co-anchor Savannah Guthrie remains unsolved, with authorities treating it as a suspected abduction and homicide.
A $1 million reward offered by the family for information leading to her safe return or the arrest and conviction of those responsible has generated thousands of tips, yet no arrests have been made and her body has not been recovered. Here is a 10-point timeline summarizing key developments in the case so far.
January 31-February 1: Last Seen and Initial Evidence Nancy Guthrie was last seen on January 31 after a family dinner. On February 1, she disappeared from her residence. Blood evidence matching her DNA was found on the porch, along with signs of a possible struggle. A masked individual was captured on doorbell camera footage tampering with the camera shortly before the disappearance.
Early February: Law Enforcement Response The Pima County Sheriff’s Office launched an investigation, joined by the FBI, Customs and Border Protection and search-and-rescue teams. Multiple searches of the surrounding desert terrain began immediately using cadaver dogs, drones and ground teams. A $1 million reward was announced.
February 24: Savannah Guthrie’s First Public Appeal Savannah Guthrie posted an emotional video on Instagram, saying, “Every hour and minute and second and every long night has been agony.” She added, “Worrying about her, and fearing for her, and aching for her, and most of all just missing her,” while urging the public to pray and provide information.
March: Religious Imagery and Continued Hope Savannah Guthrie shared a religious image on Instagram Stories with the caption “I believe, I believe,” reflecting the family’s ongoing hope for Nancy’s safe return.
May 12: Sheriff’s Update on Evidence Pima County Sheriff Chris Nanos stated, “I think every day they get closer. There’s way too much work to be done, that is ongoing, with some of the physical evidence we have.” Mixed DNA found near the home continued to be analyzed.
Mid-May: Expert Analysis on No-Body HomicideNo-body homicide expert Tad DiBiase noted the case’s unusual nature as a potential stranger-on-stranger abduction of an elderly victim. He stressed the importance of thorough searches to rule out alternatives and build a prosecutable case.
Late May: Jon Buehler’s Grim Assessment Former detective Jon Buehler expressed concern that Nancy likely did not survive, citing the lack of ransom demands and the volume of blood at the scene. “The amount of blood that was present there in the front of the house suggests to me a wound that was bleeding a lot,” he said.
Mother’s Day Tribute Savannah Guthrie shared a video compilation of clips featuring her mother, offering a touching tribute while the family continued to cope with uncertainty.
Early June: Savannah’s Latest Emotional Plea On June 7, Savannah posted another religious image with the caption “Oh my, my soul, it cries out, soul, it cries out,” followed by “Bring her home” and a yellow heart emoji, renewing the public call for information.
Ongoing Investigation as of June 8 The case remains active with no new major breakthroughs publicly announced. Authorities continue processing evidence, pursuing leads and evaluating tips. The family maintains hope while urging the community to come forward with any information.
The disappearance has shaken the upscale Catalina Foothills community and highlighted vulnerabilities for elderly residents living independently. Savannah Guthrie has balanced her high-visibility role on “Today” with supporting her family, occasionally sharing public appeals while respecting the investigation’s boundaries.
Pima County Sheriff’s officials have described the case as complex, citing laboratory backlogs for DNA and other forensic evidence. Digital forensics, neighbor interviews and analysis of potential vehicle activity remain key components. No public persons of interest have been named, though multiple individuals were questioned early in the probe.
Expert commentary has provided context on the challenges. Tad DiBiase noted that most no-body cases involve known relationships, making this apparent stranger abduction particularly difficult. Jon Buehler’s assessment reflected common patterns but emphasized the need for continued searches.
Advertisement
The family’s public statements reflect both grief and determination. In the KVOA News 4 special, they said, “We continue to believe it is Tucsonans, and the greater southern Arizona community, that hold the key to finding resolution in this case.”
Nancy Guthrie was described by family as independent and vibrant. Her sudden vanishing has prompted broader conversations about safety for seniors and the difficulties of missing persons investigations when foul play is suspected but no body is found.
Community response has included participation in early searches, vigils and ongoing offers of assistance. The case has also sparked discussions about home security and neighborhood watch programs in the Tucson area.
As the investigation enters its fifth month, pressure builds on law enforcement to deliver answers. Thorough searches, as recommended by experts, could prove pivotal both in potentially locating remains and in supporting any future prosecution.
Advertisement
Savannah Guthrie’s platform has amplified the call for information while modeling resilience. Her willingness to share glimpses of the family’s pain humanizes the broader statistics of missing persons cases.
For the Guthrie family, each day without answers brings new emotional challenges. The prolonged uncertainty compounds grief, with hope persisting alongside fear for Nancy’s well-being.
Authorities urge anyone with information, no matter how small, to contact the Pima County Sheriff’s Office or the FBI. Tips can often be submitted anonymously, and the reward provides additional incentive.
The coming weeks will be critical as forensic analysis continues and new leads are evaluated. The Guthrie family, supported by friends, colleagues and the Tucson community, holds onto hope while facing the daily reality of not knowing.
Advertisement
Nancy Guthrie’s story, amplified through her daughter’s platform, highlights both the personal toll of such disappearances and the collective responsibility to assist in bringing missing loved ones home. As the search continues, the focus remains on methodical work that could eventually provide resolution for the family and the community.
The U.S. food supply is “not at risk” from the return of the flesh-eating screwworm parasite to Texas, U.S. Department of Agriculture Secretary Brooke Rollins said Monday.
“This is not a virus, it’s not a disease, it’s just a little pest, a larva that lands in a calf’s wound, for example, and it can be treated,” Rollins said in an interview on CNBC’s “Squawk Box.”
“We have boots on the ground … we’ll be able to beat this back, but we’re going to do everything we can, investing over a billion dollars to push this pest back into Mexico, then to eradicate, as we did about 50 years ago,” she later added.
Her comments came shortly before the USDA confirmed two additional cases of screwworm in Texas — one in a calf in La Salle County and another in a dog in Andrews County — bringing the total cases to four. The agency said more information will be released on the new cases, but that early reports indicate that the dog was recently in Mexico.
Advertisement
The USDA confirmed the first positive case of screwworm in Texas on Wednesday. The screwworm cases are the first in the U.S. since the 1960s.
The New World screwworm is a parasitic fly whose larvae burrow into the flesh of living warm-blooded animals, causing painful wounds that can become life-threatening without treatment. The pest poses a risk to livestock, wildlife, pets and, in uncommon cases, people.
Cattle roam a field on June 6, 2026 in La Pryor, Texas. The first case of the New World Screwworm parasite, since its eradication from the country in 1966, was reported in Zavala County’s La Pryor on Wednesday by the United States Department of Agriculture.
Joel Angel Juarez | Getty Images
Advertisement
Screwworms do not infest meat, fruits, vegetables or other food products, according to the USDA. Still, the cases mark a troubling return of the parasite and raise questions about how to keep it from spreading further into the U.S., reviving a threat the country spent decades working to eliminate.
Texas agriculture officials, including Commissioner Sid Miller, have criticized the USDA for a slow response that failed to halt the New World screwworm from crossing the border. In response, Rollins said Miller’s recent comments are “disturbing and disruptive and so harmful to what we’re trying to achieve.”
“He knows that we have been moving at Trump speed,” Rollins said.
She said the U.S. will lean on the same playbook it used starting in the late 1950s, part of which involves releasing sterile insects to suppress the pest’s population. She said the U.S. is already dropping around 10 million sterile flies a week on the affected area, both from the air and the ground.
Advertisement
“We’ve beaten it before, we’ve got to beat it again,” Rollins said.
SpaceX’s initial public offering is well oversubscribed, according to people familiar with the matter, as demand builds for a potentially record-setting debut.
Banks leading the offering by Elon Musk’s rocket, satellite and artificial intelligence company are expected to stop taking orders from institutional investors on Wednesday after the market closes in New York at 4 p.m., some of the people said, asking not to be identified as the information isn’t public.
Closing the order books gives banks time to gauge demand ahead and advise the company on pricing. SpaceX’s IPO is expected to price June 11 and trade the following day. The company is offering 555.6 million shares at $135 each, which would raise about $75 billion, and value it at about $1.8 trillion.
Retail investors can still submit orders for SpaceX shares on some platforms beyond the Wednesday deadline. The company is allocating as much as 30% of the offering to retail, Bloomberg News has reported.
A spokesperson for SpaceX didn’t immediately respond to a request for comment. Representatives for Goldman Sachs Group Inc. and Morgan Stanley declined to comment. Anticipation is growing for the IPO which is expected to be the biggest ever, topping Saudi Aramco’s $29.4 billion debut in 2019. The company has disclosed new sources of revenue in recent weeks, emphasizing its AI clout. On Friday, SpaceX announced a deal with Alphabet Inc.’s Google that would see the Gemini AI model maker pay $920 million a month as part of a cloud services agreement set to run through 2029. It previously disclosed a similar pact with Anthropic PBC.The company formally known as Space Exploration Technologies Corp. expects to make its debut on Nasdaq and Nasdaq Texas under the symbol SPCX.
NEW YORK — A violent knife attack at a major New York transportation hub has raised security questions around Madison Square Garden, the site long rumored to host Taylor Swift and Travis Kelce’s wedding, as the couple continues to keep their plans tightly under wraps.
The incident occurred on Sunday, June 7, when a suspect wielding a knife slashed five people at the Amtrak terminal near Madison Square Garden. Police confirmed the suspect was taken into custody, while the victims were transported to local hospitals for treatment. The attack, though unrelated to the rumored wedding, has heightened awareness around the venue’s security needs given the high-profile nature of any potential event there.
Madison Square Garden has emerged as a leading speculation point for Swift and Kelce’s wedding, reportedly slated for July 4. Sources have claimed the arena’s capacity to accommodate up to 22,000 guests aligns with the couple’s desire for a large-scale celebration. However, neither Swift nor Kelce has confirmed any details, and representatives for both have remained silent on the matter.
The couple’s relationship has captivated the public since it became public in 2024. Swift, the 14-time Grammy winner, and Kelce, the Kansas City Chiefs tight end, have been spotted together at games, events and private outings, generating massive media coverage and boosting Kelce’s visibility beyond sports. Their rumored wedding would represent a major cultural moment blending pop music, sports and celebrity.
Advertisement
Selena Gomez, Swift’s longtime close friend, added to the speculation on Saturday with an Instagram post teasing an update for her Rare Beauty brand while playing Olivia Dean’s song “I Could Be a Florist.” Fans quickly interpreted the floral reference as a potential hint that Gomez may serve as a flower girl at Swift’s wedding, echoing her previous role in her own engagement announcement to Benny Blanco.
Gomez’s post, featuring images of her makeup and the caption “Something very, very exciting is happening with @rarebeauty,” drew significant engagement. The connection to Swift’s rumored nuptials fueled further online discussion, with many noting the pair’s enduring friendship and Gomez’s history of supportive gestures.
The couple has maintained a high level of privacy around their relationship and any wedding plans. Sources have claimed Swift personally called guests rather than sending traditional invitations and texted additional details. Reports suggest a carefully curated guest list focused on those she hopes will remain in her life long-term. Notably absent from speculation are former close friends like Blake Lively and Ryan Reynolds, whose relationship with Swift reportedly cooled amid Lively’s public dispute with Justin Baldoni, as well as Karlie Kloss, with whom Swift’s friendship ended years ago.
Madison Square Garden’s selection as a potential venue would align with the couple’s desire for a spectacle that could embrace fans. Some insiders have speculated about outdoor viewing experiences or unique ways to include supporters, though these claims remain unconfirmed. The arena is also hosting NBA Finals games this week, including matchups involving the New York Knicks, adding to its busy schedule.
Advertisement
Security at Madison Square Garden is already robust due to its status as a major entertainment and sports venue. The recent knife attack, while isolated, underscores the challenges of hosting high-profile events in busy urban locations. Additional security measures would likely be implemented for any celebrity wedding, particularly one involving global superstars like Swift and Kelce.
The couple’s relationship has been marked by mutual support and public appearances that blend their respective worlds. Kelce has attended Swift’s concerts, while Swift has been seen at Chiefs games. Their partnership has been celebrated for its authenticity and positive public image, contrasting with the intense scrutiny that often accompanies celebrity romances.
Swift’s music career continues to thrive, with her Eras Tour and catalog re-recordings maintaining massive cultural impact. Kelce’s NFL performance remains strong, and his off-field ventures, including media appearances and endorsements, have expanded his profile. A wedding would represent a significant personal milestone for both amid demanding professional schedules.
The lack of official confirmation has only intensified speculation. Fans and media outlets continue to parse social media clues, travel patterns and industry whispers for any indication of wedding plans. The July 4 date, if accurate, would align with a holiday weekend that could facilitate a large celebration while minimizing some scheduling conflicts.
Advertisement
Gomez’s recent post has added a layer of excitement for Swifties, who have long celebrated the friendship between the two stars. Gomez’s support for Swift has been consistent over the years, and her potential involvement in the wedding would be seen as a natural extension of that bond.
As the rumored date approaches, security and logistical planning around Madison Square Garden would need to account for both the venue’s regular events and the added demands of a high-profile private ceremony. The arena’s central Manhattan location offers iconic status but also presents challenges in crowd control and privacy.
The couple’s decision to keep plans secret reflects a desire for intimacy amid public fascination. Swift has previously spoken about the difficulties of maintaining privacy in her personal life, while Kelce has adapted to increased media attention since their relationship became public.
Regardless of the venue or exact details, any wedding between Swift and Kelce would be one of the most talked-about celebrity events of the year. The combination of music, sports and genuine affection has resonated with fans, creating a modern fairy tale narrative that transcends typical Hollywood stories.
Advertisement
For now, the public continues to speculate while respecting the couple’s privacy. The recent knife attack near the rumored venue serves as a reminder of the security considerations involved in such high-profile gatherings, but it does not appear to have altered plans if Madison Square Garden is indeed the chosen location.
The entertainment world will watch closely for any official confirmation or further hints in the coming weeks. Until then, Swift and Kelce’s relationship remains a bright spot in celebrity news, symbolizing connection and joy amid broader global challenges.
Mr McEldon – who received an OBE for services to business growth in the North East – will retire next year
16:16, 08 Jun 2026Updated 16:23, 08 Jun 2026
Paul McEldon, chief executive of North East BIC(Image: North East BIC)
A North East business leader is set to step down from his role at the head of a business support organisation after more than 25 years in the job.
Paul McEldon has been chief executive of the North East BIC since 2001, having joined the organisation in 1994. He has announced plans to retire next year, with the organisation starting the search for his successor.
Advertisement
The BIC, which has offices in Sunderland, was inspired by a European business model of fusing workspace with business support. It has become one of the region’s largest social enterprises, with a recent impact report revealing that it has boosted the regional economy by over £2.5bn.
The BIC’s four business centres have provided a home to more than 1,100 businesses over the past three decades and its events and support have helped more than 8,000 people set up and grow their own firms. Mr McEldon’s role in leading the organisation saw him receive an OBE in 2021 for services to local growth in the North East.
He said: “It has been an absolute honour to be part of the BIC team for the past 32 years and to have had the privilege of working with so many amazing people on the journey.
“Over the time we have served the region, we have created a business community unlike anything else in the North East, but this would never have been possible had it not been for our fantastic team.
Advertisement
“Everyone from our advisers to the maintenance teams, office staff and our receptionists are what make the BIC such a special organisation and if you speak to any of our customers, be they tenants or business support recipients, I am sure they will testify to that. They truly embody everything the BIC stands for.
“Now the time has come for me to step down and focus on the board work I do, which I thoroughly enjoy and which keeps me really busy. I do so in the knowledge that we have the incredible people already in place to ensure the BIC remains a force for good for another three decades and beyond.”
The BIC is recruiting for a new chief executive, with the successful applicant expected to be in post by Christmas. Mr McEldon will continue working with his successor for several months to ensure a smooth handover of activities.
BIC chair Kevan Carrick said: “Paul has been a driving force behind the North East BIC during his tenure, overseeing its growth into one of the region’s most respected business support organisations. Under his leadership, the BIC has provided vital workspace, mentoring, and innovation support to hundreds of businesses across the North East, helping to create thousands of jobs and contributing significantly to the region’s economic development.
Advertisement
“On behalf of the entire board, I want to express our sincere gratitude to Paul for his extraordinary dedication and the lasting legacy he has built at the BIC. His contribution to business support in the North East is immeasurable.”
Hibbett Sports will close 175 stores around the U.S. over the next three years as its parent company, JD Sports, looks to reorganize its footprint.
JD Sports acquired Hibbett in 2024 in a deal valued at around $1.1 billion, with the acquisition viewed as enhancing JD’s presence in the North American footwear market. Hibbett had 1,169 stores in 36 states as of May 2024, according to the press release for the deal.
Advertisement
Now, the company is moving to reduce its store count as part of a cost-cutting strategy.
JD Sports will close about 175 Hibbett Sports stores over the next three years, the company said. (David Paul Morris/Bloomberg via Getty Images)
JD Sports CEO Regis Schultz said on the company’s fourth quarter earnings call that its “second key strategic initiative is driving store productivity and optimization of our store estate. Our net store movement last year was a reduction of 39 stores, demonstrating our fewer, bigger, and better store strategy.”
“In North America, we will leverage group best practice to optimize EBIT store footprint and profitability. As part of this, we will close around 170 underperforming EBIT stores over the next three years,” Schultz added.
Advertisement
JD said that at the start of its fiscal year in February 2025, there were 999 Hibbett stores and that figure declined to a total of 982 when its fiscal year ended in January 2026 as the group consolidated its operations after the Hibbett acquisition.
JD Sports said it will focus on closing underperforming Hibbett Sports locations. (David Paul Morris/Bloomberg via Getty Images)
JD’s CFO Dominic Platt added that the group is planning to open about 20 new JD stores as well as converting between 70 to 80 Finish Line stores to JD locations in North America.
After factoring in JD Sports’ plans in Europe, the group expects its total store count to “stay broadly flat for the year,” Platt said.
Advertisement
JD Sports’ stock is down about 1.7% year to date and is around 1.8% higher over the last year.
Hibbett was acquired by JD Sports for $1.1 billion in 2024. (David Paul Morris/Bloomberg via Getty Images)
The news comes as Hibbett’s retail footwear rival, Foot Locker, announced store closure plans last November following its $2.4 billion acquisition by Dick’s Sporting Goods in September 2025.
The company didn’t specify how many Foot Locker locations would close, though nine Dick’s locations closed in 2025, along with about 11 Foot Locker-owned stores and four licensed stores.
A new report says that three in four people are not saving enough for a moderate retirement. Do you know how much you should be putting into your pension?
How good planning before you even set foot in the airport can make the most of your holiday money.
And the future of online shopping- how is AI changing what that looks like.
Advertisement
And if you’ve got a story or an experience you’d like to share, you can get in touch – just email cfb@bbc.co.uk.
You must be logged in to post a comment Login