JJB sales plunge 52% in “difficult” trading December 17, 2009 JJB sports has reported a 52 per cent plunge in sales in the past six months, with the Christmas season failing to reverse its fortunes. The struggling sports retailer has been trying to stage a fight back after it came close to going into administration earlier in the year. But the latest gloomy figures have [...]
BEST OF THE BROKERS December 2, 2009 DUNELMAltium Securities yesterday gave Dunelm Group a “buy” rating and forecasted earnings growth of about 30 per cent for 2010, partly based on the company’s reported £24m of net cash at the end of 2009, following a £30m net cash inflow the previous year. It said that Dunelm’s financial strength and capacity for expansion position [...]
JD Sports Fashion says its trading has improved December 1, 2009 Sportswear and fashion retailer JD Sports Fashion said yesterday its trading has improved over the last 11 weeks and it is confident of its prospects for the rest of the year. The firm last updated the market on 12 September when it reported like-for-like sales up 0.5 per cent for its sports-based stores and up [...]
Sports Direct will fight to keep its Blacks holding October 27, 2009 Sportswear retailer Sports Direct is ready to defend its claim to a 28.5 per cent stake in outdoor goods firm Blacks Leisure, rejecting a counter claim by administrators of Kaupthing Singer & Friedlander. “Sports Direct is in the process of taking an action against Kaupthing Singer & Friedlander and its administrators, Ernst & Young,” Sports [...]
Powerleague shrugs off new bid talk October 25, 2009 POWERLEAGUE, Britain’s biggest operator of five-a-side football, yesterday shrugged off rumours that sports fashion retailer JD Sports was plotting to gatecrash its £42.5m takeover. Earlier this month Powerleague agreed to a takeover offer from its biggest shareholder, Patron, which owns 29 per cent. Its executive chairman, Claude Littner, a close friend and colleague of Apprentice [...]
JJB Sports plunges to a huge 43m loss September 24, 2009 EMBATTLED sportswear retailer JJB Sports yesterday reported widening losses for the six months to July, dragging the group £42.9m into the red. JJB Sports said that the losses had grown from £14.8m the year before, as revenue dived by 42.5 per cent to £178.6m. The group also said like-for-like sales were down by 27.4 per [...]
Profits jump at JD Sports on sales rise September 22, 2009 JD Sports yesterday shrugged off the gloom, reporting an 11 per cent rise in profits, despite the consumer downturn battering the high street. The group said profits rose to £10.1m in the six months to 1 August, boosted by a jump in sales. JD Sports said that group total sales were up by 8.4 per [...]
HOW WELL IS JD SPORTS PERFORMING IN WHAT CONTINUES TO BE A CHALLENGING ENVIRONMENT FOR RETAILERS? September 22, 2009 KEITH BOWMAN HARGREAVES LANSDOWN The figures are at the higher end of expectations and the dividend hike is encouraging, though recent sales are a little disappointing. But JD Sports seems to have avoided the worst of the retail shakeout due to its young customer base, so it will be given the benefit of the doubt [...]
THE LONDON REPORT September 20, 2009 ALL eyes are on authorities on both sides of the Atlantic this week, with minutes of the Bank of England’s latest rates meeting and a decision on US interest rates from the Federal Reserve, ahead of the crucial G20 summit in Pittsburgh on Friday. Imperial Tobacco’s pre-close update on Tuesday is expected to be upbeat, [...]
JD Sports on the up while JJB struggles September 20, 2009 RIVAL sportswear retailers JD Sports and JJB Sports are due to report half-year figures this week amid mounting controversy in the sportswear sector.JD Sports has been relatively resilient throughout the downturn, reporting sales lifts and profiting from the ailing fortunes of its rivals. Selling mainly sportswear fashion, rather than sports equipment, it has been cushioned [...]