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JJB Sports says it is likely to breach its banking covenants as sales continue to fall short of expectations at the sports shop chain. Trading conditions have been "extremely challenging" since it last updated the market early last month and the company thinks this has been exacerbated by the curre
Read moreSales have continued rising and margins have been maintained since JD Sports Fashion's last update in September, the trendy sportswear retailer said today. The company added that its result for the full year depends on sales and margins in December and January. 'We are inevitably cautious about ma
Read moreThe share price of recovery play JJB Sports hit a 52-week low Thursday morning after an autumn promotional drive failed to juice up sales. Excluding value added tax, like for like (LFL) sales for the period from 2 August 2010 to 7 November were up 11.5% on the corresponding period of last year. T
Read moreStruggling sportswear group JJB Sports has landed a £455,000 fine for lack of transparency in the run-up to its interim results two years ago. An investigation by UK regulator, the Financial Services Authority, sparked the fine, which will be payable in 2011 on a date or dates to be determined.
Read moreShares fell in the afternoon after a surprise hike in rates in China took investors by surprise and the leading share index finished firmly in the red. The People's Bank of China upped its one-year deposit rate to 2.5% from 2.25%, while the lending rate has been hiked to 5.56% from 5.31%, with effe
Read moreHaving drifted aimlessly during the morning session shares turned briskly south over lunch after China made surprise changes to some of its interest rates. The People's Bank of China upped its one-year deposit rate to 2.5% from 2.25%, while the lending rate has been hiked to 5.56% from 5.31%, with e
Read moreLondon had a subdued morning with investors reluctant to jump too far in one direction ahead of tomorrow's release of the meeting notes from the most recent Monetary Policy Committee chin-wag. There has been some excitement in the tech sector, however, after yesterday's blockbusting results from Ap
Read moreLondon has recovered from an early blip as investors get ready for tomorrow's comprehensive spending review. Banks are largely responsible for the revival with Barclays, Standard Chartered and RBS all ahead. Autonomy is flat even though chief Mike Lynch said growth prospects for the data search so
Read moreLondon is set to start the day barely changed as traders sit on their hands ahead of the comprehensive spending review to be announced on Wednesday. City sources predict the FTSE 100 will open down 2 points from yesterday's close of 5,742. First half underlying pre-tax profits from Premier Inn and
Read moreA cloud over sportswear retailer Sports Direct International has been lifted as the company indicated that no charges will be brought against it by the Serious Fraud Office. A statement from Sports Direct said the Serious Fraud Office (SFO) will shortly confirm that its investigation into Sports Di
Read moreBP is preparing a top-level reshuffle of its management ahead of Robert Dudley taking charge of the oil company this week. Mr Dudley, who will take over as chief executive of BP from Tony Hayward on Friday, is planning to remove several senior executives in company's exploration and production (E&P
Read moreAn upturn in the US buoyed sentiment on this side of the Atlantic too, helping Footsie to finish in the blue after a choppy day. The day started badly for London's leading share index but it. gradually recovered throughout the morning only to fall back after a poor start on Wall Street then rebound
Read moreTravel company Thomas Cook falls sharply after it started a review of its UK cost base after softer than expected business over the summer and in view of the difficult market backdrop. "Our cost experience in the UK has not been as favourable as expected, particularly in the airline, and this will
Read moreExpectations of a firm start on Wall Street have lured buyers back into the market in London and the blue-chip index ended the lunch time session barely changed on the day. Hedge fund manager Man has been usurped as worst performing FTSE 100 stock by weapons systems developer BAE Systems. Defence f
Read moreSportswear retailer JJB Sports has made progress on its three-year turnaround plan, but still posted heavy interim losses and indicated it will need more sales and promotions to keep momentum going. The troubled group lost £24m in the six months to July, down from £42.9m this time last year. Sales
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