9 Jul 2012 07:00
JJB Sports Plc
Trading Update
9 July 2012
JJB Sports Plc ("JJB" or the "Group") today announces an update on trading performance.
The Group announced on the 4 April 2012 that it had broadly continued to meet its trading expectations for the nine weeks ended 1 April 2012. Since then the Group has experienced a deterioration in trading performance against management expectation, particularly during May and June when the expected peak in sales in connection with sales of replica football kits and associated products generated from consumer interest in the European Football Championships did not materialise to the extent anticipated (and previously experienced with other major football championships). This sales performance has been further exacerbated by the poor early summer weather, which has adversely impacted sales of seasonal product. Consequently sales have fallen materially short of expectations.
Group like for like sales for the 22 weeks ended 1 July 2012 decreased by 8.0%. As at 1 July 2012 net debt was £15.4m.
A full update will be provided at the time of our Annual General Meeting on 19 July 2012.
For further information, please contact:
Keith Jones
Dave Williams
JJB Sports plc
01942 221400
Neil Bennett
Daniel Yea
Maitland
020 7379 5151
Heraclis Economides
Richard Thomas
Numis Securities
020 7260 1000
A copy of this press release can also be viewed on the JJB Sports plc corporate website, www.jjbcorporate.co.uk.
About JJB
JJB Sports plc (JJB: LSE) is one of the UK's leading sports retailers. The Group is headquartered in Wigan and listed on the AIM, trades from over 180 JJB branded retail stores in the UK and Ireland and employs over 4,000 people. Further information about the Group can be found on the Group's corporate website, www.jjbcorporate.co.uk.