News
JJB Sales fall sharply
Mark Sutton May 20 2008, 2:24pm
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Sports superstores troubles deepen
JJB sports has seen yet another set of negative financials. This follows on from the confirmation that the giant is set to close 72 underperforming stores nationwide.
The company has reported that revenue in the 13 weeks to 27th April declined by 8.3 per cent against the same period last year. The stores strategy to close weaker branches is designed to cut losses, meanwhile investing more time and money in the groups more successful branches and health clubs.
Roger Lane-Smith, non-executive Chairman of JJB said: "While the retail environment remains very challenging, we have taken significant action to strengthen our store portfolio and continue to invest to improve the quality of our stores and product. Our health club division continues to perform well."
Comments
“Jjb Sports”
Posted by: Philip Hunt - May 21, 4:51am
Ref my comment on High Street sales suffer... Is the above happening to other retailers - chains or independent businesses? A problem shared is sometime the route to a solution or at least, spreading the pain and experience can bring new attitudes to tough times. I can remember plenty of downturns in business and some extremely tough times but the world did not end. I can recall boom times when sales did not eventuate because there was too much competition. Maybe the present difficulties will sort the wheat from the chaff and present new opportunities. Whatever you do, try to preserve your cash or your ability to finance growth when the downturn becomes an upturn you are ready. This period really sorts out who is going to survive because without the cash or resources to buy new stock...