saucony-2022
saucony-2022
Apr 20, 06

Profits slashed at JJB

Like-for-like revenue also decreased by 4.3 per cent. JJB said that trading conditions have continued to be very competitive, with the replica kit comparatives achieved during Euro 2004 being difficult to match.

On a brighter note, JJB’s turnover in its leisure division increased by 42.2 per cent to £89.2 million. The company has increased the number of its combined health club/superstores by 11 to 32.

Says non-executive chairman, Roger Lane-Smith: “Although not unexpected, the fall in the full year profits is disappointing. As well as a generally difficult retail climate, the sports sub-sector is also going through a fundamental change with competitive pressures making trading conditions extremely challenging.

“To offset this, we have adopted a more aggressive stance on pricing with a resultant pressure on margin and have undertaken other sales initiatives to address these competitive issues.

“However, I am heartened by the continuing expansion of our leisure division, where membership of our health clubs at January 29, 2006 was 55 per cent higher than on the same date last year. Furthermore, we look forward, in the coming months, to a number of replica kit launches for Premier League clubs as well as the World Cup, where I have more reason than most to wish England luck.”

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