5 Jan 2012 07:00
JJB Sports Plc
Christmas Trading Statement
JJB Sports Plc ("JJB" or the "Group") today announces an update on performance following the Christmas trading period.
Group like for like sales for the 4 weeks ended 26 December 2011 increased by 5.0% and like for like cash gross margin increased by 6.0% in the same period.
Our cumulative like for like sales in the second half of our financial year for the 21 weeks ended 26 December 2011 have decreased by 7.8% compared to a decrease of 17.7% in the first half (the 26 weeks ended 31 July 2011). In the same period our like for like cash gross margin decreased by 3.2% compared to a decrease of 31.7% in the first half. Cumulative like for like sales for the 47 weeks ended 26 December 2011 have decreased by 13.5% and like for like cash gross margin has decreased by 20.8%.
Commenting on the results, Keith Jones, Chief Executive Officer, said:
"Our overall trading has improved in the second half of the financial year and we achieved a Christmas trading performance broadly in line with our expectations in the face of an extremely challenging consumer environment.
Looking ahead, the ongoing credit squeeze on consumers and weaker UK employment numbers creates a tough environment. We continue to implement our turnaround aware of the importance of the periods of the January sales, European football championships and London Olympics".
For further information, please contact:
Keith Jones
Dave Williams
JJB Sports plc
01942 221400
Neil Bennett
Emma Burdett
Maitland
020 7379 5151
Heraclis Economides
Mark Lander
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 195 JJB branded retail stores in the UK and Ireland and employs over 4,500 people. Further information about the Group can be found on the Group's corporate website, www.jjbcorporate.co.uk.