// The boss of JD Sports has sold 10 million shares in the retail giant

// Cowgill sold the shares at an average price of 213.22p each, netting him £21.3 million

JD Sports executive chair Peter Cowgill has sold 10 million of his shares in the sporting goods retailer, over half of his shareholding.

The news come just days after the retailer revealed it now expects full-year profits of at least £875 million following a bumper Black Friday and Christmas period.

Cowgill sold the shares at an average price of 213.22p each, netting him £21.3 million and JD Sports offered no reason for the share disposal in its statement following the transaction.

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Cowgill, who has led the company since 2004, now holds a 0.19% stake in the company with 9.7 million shares.

JD Sports’ shares fell 7% to 196.50p on Thursday following the news of Cowgill’s shock share sale.

The retail giant is 51% owned by Pentland Group, the London-based company behind the likes of Speedo, Canterbury and Berghaus.

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