JJB Sports on the up despite England
SALES at JJB Sports have soared in recent weeks, despite England’s early exit from the World Cup.
Like-for-like sales, which strip out the impact of new store openings, rose 22.3 per cent for the six weeks to 4 July compared with a year ago.
JJB, which sells England replica kits, said that profit margins over the same period had also increased 43.9 per cent.
England lost 4-1 to Germany in the first knock-out stage of the World Cup on 24 June, but sales have still performed well. JJB came close to going into administration last year but a successful £100m rights issue in October allowed the retailer to pay off its debts. The board has undertaken a massive shake-up of the business to address the problems.
JJB also revealed yesterday that sales at its newly-refitted Slough store had increased by nine per cent above the company average.
However, the group’s figures are flattered by weak comparatives after it was hit by a stock crisis when suppliers became reluctant to deal with the firm as it struggled with financial woes.