BikeBiz Bicycle and cycling retail news
JJB Sports revealed an 8 per cent fall in like-for-like retail sales over the key Christmas period.
Group sales also slipped by 8.4 per cent in the five week period between December 8th 2008 and January 11th 2009
JJB has also announced that it is anticipating a loss before tax of between £5m and £10m, with debts at just under £60 million.
The fortunes of JJB’s health club contrasted with retail sales, with an increase of 8.4 per cent in revenue.
"We have started a comprehensive review of the business – including product offer, store layout and operating systems,” explained recently appointed JJB executive chairman Sir David Jones. “This is an essential part of the plan to re-establish JJB as a major force in the Sportswear Market.
"We are under no illusions that this is a very difficult task in the present retail environment, but we are determined to succeed."
The results follow similar tales of falling sales for JJB in the difficult economic climate.
