JD Sports sales fall in line with forecasts June 9, 2011 Sports retailer JD Sports Fashion has seen sales continue to fall at a growing pace but said the declines remain within its expectations. Sales falls seen in its full-year results have continued over the past three months, giving a like-for-like decline of 2.8 per cent in UK and Ireland net sales. JD Sports, a one-time [...]
JJB revival plan hit as its losses mount May 25, 2011 SPORTSWEAR chain JJB Sports yesterday warned that it will take as long as five years to turn round the business after it reported mounting losses. The full-year losses almost doubled to £181.4m. The retailer was saved from administration in March when it hammered out a company voluntary agreement with its landlords, closing up to 89 [...]
JD Sports negative on growth in 2011 despite sales boost April 13, 2011 JD Sports saw a jump in profit yesterday but remained downbeat about the outlook. The gloomy trading forecast overshadowed better-than-expected profit figures for the past year of £81.6m, after analysts had pencilled in £79m. Same-store sales for the year increased by 3.1 per cent, boosted by strong demand for brands such as Adidas and Nike [...]
FTSE rallies after banks and retailers deliver good news April 13, 2011 THE UK’s top share index closed higher yesterday, boosted by retailers and banks after a sell-off on Tuesday described as “overblown”. At the close, the FTSE 100 was up 45.97 points, or 0.8 per cent at 6,010.44, recouping half of Tuesday’s 1.5 per cent drop and recapturing the 6,000 level. Banks gained after better-than-expected results [...]
JD Sports urges caution despite sales lift April 13, 2011 Sportswear retailer JD Sports Fashion said it was extremely cautious about the future despite bucking the general gloom on the high street to post a 21 per cent rise in year profit. The firm, which trades as JD Sports, Size, Bank, Scotts and Chausport, said Wednesday it made an underlying pretax profit of 81.6 million [...]
JJB eyes £65m share issue to stave off debts March 13, 2011 DEBT ridden retailer JJB Sports is plotting a further £65m fundraising in an effort to reverse its recent financial woes. The Wigan-based firm will tomorrow announce details of a share offering to raise the cash, which is expected to come from existing investors. It will use the funds to give it working capital as it [...]
JD Sports ditches JJB talks March 11, 2011 Shares in struggling retailer JJB Sports plummeted more than six per cent today as JD Sports Fashion backed out of rescue plans. JD, which announced on 2 February that it was in early stage takeover talks with JJB said in a statement it has “no intention” of making an offer. JD complained its rival had [...]
JJB seals £31.5m lifeline as share sale saves it from administration nightmare February 21, 2011 SPORTSWEAR retailer JJB Sports has raised £31.5m in a share sale which has bought it time to try to reverse its fortunes. The firm, in which America’s richest man Bill Gates holds a stake of about 5.5 per cent, said yesterday the cash was raised in a firm placing and an open offer of 630m [...]
JJB raises £31.5m in life-saving share sale February 21, 2011 Struggling sportswear retailer JJB Sports has raised £31.5m in a share sale that represents an essential first step towards survival. The firm, in which America’s richest man Bill Gates holds a stake of about 5.5 per cent, said on Monday the cash was raised in a firm placing and a placing and open offer of [...]
JJB Sports to fight for new rent proposal February 13, 2011 JJB SPORTS was heading for a battle with its landlords and other retailers after confirming its company voluntary agreement (CVA) is to include the renegotiation of two-fifths of its rent payments. The company has warned its biggest landlords, including British Land, Henderson and Prudential, that if its terms for discount rent and tenancy breaks for [...]