Trends & Features

JJB Sports: up to three years away from recovery

JJB Sports’ CEO Keith Jones has said it will take up to three years to turn around the beleaguered retailer after its half-yearly results revealed the chain made an operating loss of £24.6million on revenue of £184million.

During the first six months of 2009, JJB made a loss of £41.9million on revenue of £167.3million.

“These results to August 1, 2010 reflect a period of steady progress towards that goal,” says Jones.

“I am particularly pleased with the performance of our first refurbished store in Slough, which, with the same ranges as available in the rest of the chain, has consistently delivered a performance well ahead of the rest of the group.

“Five further refurbished stores will be trading before the end of October.”

Jones added that since the half-year end sales have been volatile, with JJB taking steps to drive autumn and peak-season sales through increased promotional activity.

“In the short term our new sales management and promotional activities will drive our performance to year end,” says Jones.

“We now have the senior management team in place to develop plans and initiatives to deliver the next phase of recovery.

“Although there remains much to be done, I remain excited by the size and nature of the opportunity for the business and confident in management’s ability to deliver that opportunity.”

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