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."
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