JJB warns that sales stalling

first_img Show Comments ▼ John Dunne JJB warns that sales stalling Tags: NULL Share whatsapp Sportswear retailer JJB Sports said trading conditions had got tougher in recent weeks as shoppers brace themselves for higher taxes and big cuts in public spending.The group, which teetered on the brink of insolvency in 2009, said sales at stores open at least a year rose 18 per cent from August 2 to August 29, but had slowed to a six per cent increase from August 30 to 26 September.“There appears to be increasing caution in the market over discretionary expenditure which means that it is very important to attract customers to our stores with a good range of products, services and prices,” it said in a statement.JJB said customers had responded well to promotions, but sales growth fell back when they ended.The group made a loss before tax and one-off items of £21.9m in the six months to 1 August compared with a loss of £46m in the same period last year.Like-for-like sales for the year to date were up 13 percent, with cumulative gross profit margins in line with the half year. JJB avoided administration last year by selling its fitness clubs, pushing through a debt restructuring deal with creditors, raising £100m of new capital and renegotiating banking facilities. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tuesday 28 September 2010 3:05 am whatsapplast_img