JJB.L Regulatory News (JJB)

10 Jan 2007 07:01

JJB Sports PLC10 January 2007 10 January 2007 JJB Sports plc Trading Statement JJB Sports plc ("JJB"), the UK's largest publicly quoted sports retailer, istoday providing an update on its trading performance for 22 weeks (the secondhalf of its current accounting period) to 31 December 2006 and for the Christmas/New Year period of 5 weeks to 31 December 2006. JJB's performance over bothperiods has been satisfactory and is in line with the Board's expectations. Total revenue for the 22 weeks to 31 December 2006 was 6.0% higher than in thecomparative period last year and included an increase in like-for-like revenue(on operating units which have been trading for over 52 weeks) of 6.3%. Thecombined gross margin from both the retail stores and the health clubs, was 170basis points higher than that earned in the same period last year. Total revenue for the 5 weeks to 31 December 2006 was 4.5% higher than theequivalent period, including a like-for-like increase of 5.4% and the grossmargin was 210 basis points higher than that earned in the comparative period. Retail Stores There has been a significant improvement in the retail stores' gross profitperformance (including those stores which are part of the combined health clubs/superstores). Total revenue for the 22 weeks to 31 December 2006 was 4.9% higherthan in the comparative period last year and the gross margin achieved in thatperiod was 130 basis points higher. For the 5 weeks to 31 December 2006, totalturnover increased by 3.5% and the gross margin by 170 basis points. Satisfactory increases in gross profits were achieved in all product categorieswith the biggest increase being in replica products, particularly of the majorPremiership Clubs and Glasgow Rangers (from whom JJB had secured the marketingrights, earlier in the current accounting period). Health Clubs Both revenue and the number of members in JJB's health clubs, continue to showmaterial increases over the comparative period. JJB will have opened 7 combinedunits during the current accounting period which is less than the numberanticipated in JJB's last Interim Statement. Planning and building delays haveresulted in these openings being moved into 2007 and JJB plans to continue withits aggressive opening programme of combined units in the foreseeable future. Roger Lane-Smith, JJB's Non-executive Chairman, commented: - "I am pleased with JJB's trading performance throughout the current accountingperiod, including around Christmas and New Year. Looking forward to 2007, I believe that the progress we have made following theintroduction of new distribution arrangements with Nike and adidas gives us theopportunity to further emphasise our "Serious about Sport" stance and that thecontinuing roll-out of combined health clubs/superstores, will result in anincreased contribution to profits from our Leisure Division". For further information, please contact: Tom KnightDavid Greenwood 01942 221400JJB Sports Plc Lydia PretzlikCharlotte Barker 020 7379 5151Maitland The Company is holding a conference call for analysts at 9am. Please contactCharlotte Barker at Maitland for further details. This information is provided by RNS The company news service from the London Stock Exchange