20th May 2008 07:00
JJB Sports plc
Interim Management Statement
JJB Sports plc ("JJB") is today publishing its Interim Management Statement relating to the period from 28th January 2008 to 19th May 2008.
Group revenue for the 13 weeks to 27th April 2008 was 8.3% lower than the same period last year. On a like-for-like basis (on operating units that have been trading for over 52 weeks) the total revenue was 5.3% lower. This consists of a 6.5% decrease for retail stores and a 5.0% increase for health clubs.
The combined gross margin achieved during the same period was 100 basis points higher than last year.
The Board remains confident about its strategy going forward but is also aware of the challenging retail environment. The Group also confirms the completion of its recent store closure programme.
Roger Lane-Smith, non-executive Chairman of JJB said:
"Whilst the retail environment remains very challenging, we have taken significant action to strengthen our store portfolio and continue to invest to improve the quality of our stores and product. Our health club division continues to perform well."
For further information, please contact:
|
Chris Ronnie |
|
|
David Madeley |
01942 221400 |
|
JJB Sports plc |
|
|
Charlotte Walsh |
0207 379 5151 |
|
Richard Farnsworth |
|
|
Maitland |
A copy of this press release can also be viewed on the JJB Sports plc corporate website, www.jjbcorporate.co.uk
Related Shares:
JJB.L