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JJB turnaround making good progress, says retailer

JJB Sports’ turnaround business plan is making good progress, the retailer said at its AGM today (July 8).

The company has closed 38 CVA stores, completed eight store refits, and realigned its cost base in-store, through the supply chain and at its retail support centre in Wigan.

JJB said that while working capital and cash management are its key focus, in the 22 weeks to July 3 the overall financial performance of the business has been in line with the board’s expectations.

“We are delivering on our business plan objectives and progress remains on track,” says JJB chairman, Mike McTigue.

“While we expect the retail environment to remain extremely challenging over the medium term, we are confident of delivering the full turnaround to ensure JJB’s future as a prosperous business.”

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