JJB Sports has reported group revenue for the 20-week period to December 13 was 52% lower than the same period last year.
On a like-for-like basis, total revenue was 29% lower. Like-for-like sales in August were down 37%, in September and October were down 27% and November were down 21%.
JJB Sports has reported like-for-like sales have shown some improvement since the first half, but have fallen back in the beginning of December.
In the first three weeks of December, like-for-likes fell 32% because last year JJB Sports’ Sale started on November 25 and continued to March 2009.
This year the retailer’s Sale will start on December 26 and it expects to launch its spring ranges before the end of January.
JJB said it is starting to take delivery of the new stock and that stock holding has improved since the half year when it was £50m and is now 19% lower than the same period last year.
Following its £100m capital raising, the proceeds were used to pay down the company’s borrowings with Bank of Scotland of £30.5m. The facility has now been amended to a 3-year £25m facility expiring on September 30, 2012.