Is a redefinition as a leisure company in the offing?
JJB Sports has reported a fall in like-for-like turnover of 1.8 per cent for the core business in the 26 weeks to July 25 this year.

The retailer's turnover was recorded at£362.9 million, down from£460.6 million in the same period last year. Pre-tax profits were£21.4 million, down from£24.1 million against last year's equivalent timeframe.

The retailer blamed the impact of the poor summer on its clothing business, which together with replica sports strips accounts for 62 per cent of the retailer's store turnover. However, JJB chairman David Whelan highlighted the retailer's expanding leisure division as a positive hope for the future. 'I am disappointed that the results have fallen short of original market expectations,' he said. 'The success that we anticipated from the Euro 2004 tournament was largely fulfilled but the poor summer had an adverse impact. While the results from our retail stores were disappointing the profits from our leisure division have continued to grow and give me considerable confidence for the future.'

The retailer's leisure division increased its operating profit by 24 per cent to£5 million. JJB has 25 combined health club/superstores in operation and has 16 new sites earmarked for development next year.

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