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Sales on track for JJB |
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2004-7-13
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Sales of replica football kit during Euro 2004 helped boost sales at ailing sports chain JJB Sports.
JJB is Britain''s biggest sportswear retailer and has seven stores in Edinburgh alone. It said like-for-like sales improved as the first half of its financial year progressed, but were still down 1.3 per cent over the 23 weeks to July 4.
The firm, which reported a 5.7 per cent decline in like-for-like turnover after ten weeks of its financial year, said sales were boosted by demand for replica shirts during the recent Euro 2004 tournament.
Turnover in replica products was 36 per cent higher in the 23 weeks to July 4, 2004 than the previous year, but at slightly lower gross margins than those achieved on other clothing products.
Overall, gross margins in the 23 weeks to July 4 were at a similar level to the year before, JJB said.
The Wigan-based group saw its share price fall earlier this year when it reported a 12 per centdrop in annual profits and admitted that business was unlikely to improve over the next 12 months. |
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