Sportwear retailer sees recovery hobbled by level sales
All:sports has seen the gains it made in the year to January 31, 2003 wiped out, following level sales and a sharp reduction in profits.

Sales stayed level for the 53 weeks to January 31, 2004 at£187.4 million. Profit on ordinary activities before tax fell from£7.1 million in 2002 to£3.8 million the following year.

According to Retail Knowledge Bank, this is the second successive year that All:sports' pre-tax profits have fallen, from a four-year high of£13.6 million in the year to January 31, 2002.

The retailer reduced its estate by five stores during the reported period, opening seven shops and closing 12, bringing the total to 272 outlets. However, the directors said they remained committed to financing store expansions and launching shops.