6th Jun 2007 07:02
JJB Sports PLC06 June 2007 JJB Sports PLC Interim Management Statement JJB Sports plc ("JJB") is today publishing its Interim Management Statementwhich refers to its trading results for the 18 weeks to 3 June 2007. Total revenue for the 18 weeks to 3 June 2007, including that from retail storesand from health clubs, was 1.2 per cent lower than the same period last year andincludes a like-for-like decrease in revenue (on operating units which have beentrading for over 52 weeks), of 1.8 per cent. However, the combined gross margin from both the retail stores and health clubsfor the 18 week period was 260 basis points higher than that earned in thecomparative period last year. Retail Stores In the Preliminary Results statement in respect of the 52 weeks to 28 January2007, issued on 12 April 2007, we referred to our trading results for the 9weeks to 1 April 2007 which included an increase in total revenue of 4.3 percent. We pointed out then that the figures of spring/summer of 2006 would bedifficult to match this year because of the levels of revenue from Englandreplica kit and associated accessory products achieved before and during theFIFA World Cup in 2006. For comparison purposes, if all replica kit revenues aretaken from total revenues for both the 18 weeks to 3 June 2007 and thecomparative period, then there would have been an increase in total revenue of2.6 per cent. All other product categories achieved increases in revenue. Asignificant part of the increase in the combined gross margin arose from theretail store results. The introduction of adidas and Nike in-store areas within our superstores isproceeding and at 3 June, 83 adidas and 53 Nike in-store areas were inoperation. It is anticipated that by the end of this calendar year we shall haveinstalled over 200 adidas areas and approximately 100 Nike areas. The tradingresults from those retail stores that have had in-store areas installed, both interms of revenue and of gross margin, are better than the average for our retailstores. Health Clubs JJB has opened a further 3 combined health clubs/superstores since 29 January2007 and now trades from 42 health clubs. Revenue from the health clubs andindoor soccer centres has increased by 21.9 per cent for the first 18 weeks ofthis year, compared to last year, and memberships at 31 May 2007 totalled 181,200 members, compared to 153,000 at the same date last year. Although opening programmes for combined units can be affected by delays inobtaining planning permissions and the length of the build period, we currentlyexpect to open a total of 8 combined units during the 52 weeks to January 2008and 17 combined units in the following year. Roger Lane-Smith, JJB's Non-executive Chairman, commented "Trading results for the first 18 weeks of the current accounting period isin-line with our expectations and I remain confident that our policies ofproduct differentiation within our retail stores and the expansion of our chainof health clubs, will provide future growth". For further information, please contact: Tom KnightDavid Greenwood 01942 221400JJB Sports Plc Lydia PretzlikCharlotte Walsh 020 7379 5151Maitland This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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