AGM Statement

Board change and AGM

Board

The Board of JJB Sports plc ("JJB Sports" or the "Company") announces that Sir David Jones has decided to retire as a director. His retirement, which is due to his ill-health, takes effect immediately.

Sir David joined the JJB Sports Board as a Non-executive Director in 2007, becoming Deputy Chairman in 2008 and Executive Chairman at the start of 2009. He stepped back to a Non-executive role in January 2010, prior to Keith Jones starting as Chief Executive.

Sir David played a crucial role as Executive Chairman during 2009 at a time when the Company was close to administration, leading the Company through a succession of transactions and initiatives to secure its survival and to create a platform for growth. The Board places on record its enormous thanks to Sir David for everything he has achieved with the Company.

The Company also takes this opportunity to confirm the current board committee structure:

Remuneration Committee:

- David Adams, Chairman

- Alan Benzie

- Sir Matthew Pinsent

Audit Committee:

- Alan Benzie, Chairman

- David Adams

- John Clare

Nominations Committee:

- John Clare, Chairman

- David Adams

- Alan Benzie

David Adams is the Senior Independent Non-executive Director.

AGM

The Company is holding its AGM in Wigan at 11.00am today. The results of the voting, which will be by a poll, will be released after the meeting and full details will be available on the Company website. Keith Jones will read a short statement at the AGM as follows:

As you know, I joined JJB Sports almost exactly 5 months ago. I believe the Company, through hard work and the application of our colleagues, has achieved a great deal in that time. However, as presented in May at the time of our preliminary results, we are still at the start of our journey, but we remain optimistic about long term prospects and growth.

We gave a trading update on the 8 July as well as announcing the positive results from our newly refurbished trial store in Slough.

Like for like trading in the six week period to 4th July, covering the World Cup, was up 22.3 % on the same period the previous year, with sterling gross margin up 54.5% for the same period. Year to date sales to 4 July were up 12.1% year on year and we have continued to make progress in line with expectations in the 3 weeks since.

Our sale started on 1 July and will be followed by the introduction of our new seasonal range as well as Back to School products. 

The results for the Slough store showed like for like sales up 33% for the six week period post refit, some 9% ahead of the Company and money margin up +47% year on year, 17% ahead of the Company.

I would like to remind you that the Slough store has had no specific extension in product range nor in investment in colleague headcount or training. Whilst we continue to make improvements, we are confident of the strength of the store concept and will roll it out to at least 4 more stores this Autumn.

In addition to excellent customer feedback we have also received positive reactions from investors, analysts and landlords, many of whom visited the store on 8 July.

Whilst the Slough store is important, we have been doing a lot more besides. We have been refining and developing our strategic thinking around our Serious About Sport strategy, and what it means to our customers and we have been developing and extending our relationships with our suppliers and partners.

We have also been concentrating on our systems and processes in key areas, including stock management and control. And we have made progress in recruiting key individuals who will help us to achieve our ambitions which include the appointment of Paul Mitford as the Company's HR and Training Director.

In summary, we are addressing the retail basics first. I believe we have met all our objectives so far this year, and we are firmly focussed on continuing to do so.

For further information, please contact:

A copy of this press release can also be viewed on the JJB Sports plc corporate website, www.jjbcorporate.co.uk 

About JJB Sports

JJB Sports plc (JJB: LSE) is one of the UK's leading sports retailers. The group, headquartered in Wigan and listed on the Main Market of the London Stock Exchange, trades from 249 JJB branded retail stores in the UK and Ireland and employs approximately 7,500 people. Further information about the group can be found on the group's corporate website, www.jjbcorporate.co.uk