JJB – revenue falls 1.2%

JJB has announced total revenue for the 18 weeks to June 3 is down 1.2 per cent on the same period last year.

In today’s interim management statement, the retail chain said the disappointing figures were down to tough comparisons with last year’s World Cup sales, in particular England replica kit and associated products.

However, trading results in terms of revenue and gross margin for JJB’s 83 adidas and 53 Nike in-store areas are better than average. The company anticipates having 200 adidas and 100 Nike areas open by the end of the year.

JJB has opened a further three combined health clubs/superstores since January 29 and now trades from 42 health clubs. Revenue from the health clubs and indoor soccer centres has increased by 21.9 per cent for the first 18 weeks of 2007, compared to last year, while members up to May 31 totalled 181,200, compared to 153,000 at the same date in 2006.

Says Roger Lane-Smith, JJB’s non-executive chairman: “Trading results for the first 18 weeks of the current accounting period is in line with our expectations and I remain confident that our policies of product differentiation within our retail stores and the expansion of our chain of health clubs will provide future growth.”

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