BikeBiz Bicycle and cycling retail news
JJB Sports has revealed a decline in sales from last year in its interim financials, published today.
In the period from July 28th to December 7th, total Group sales (excluding the Original Shoe Company and Qube) dropped by 7.5 per cent, compared to last year on a like-for-like basis.
Retail sales dipped 8.9 per cent, while the firm’s health club revenue increased 6.7 per cent in the same period.
JJB announced that it had started sales early to combat the difficult trading conditions and added that hitting profit targets will be down to the continuation of sales in the crucial January period.
"During the period we have made good progress on a number of fronts in the face of the difficult trading conditions that have afflicted the entire high street,” said non-exec chairman Roger Lane-Smith.
“The economic outlook is challenging but I am confident that the work we are doing will put JJB in the best possible shape to trade through it," he added.
Stock holding in the retail side of JJBs business also fell and was 28 per cent lower than last year.
