JJB Sports saw a first-half loss of £24.6 million ($37.6mm), narrowing last year’s loss of £41.9 million in the prior-year term. Contributing to the uptick were increased sales of replica soccer clothing during this year’s World Cup.
In the first-half, sales rose 10% to £184 million ($280.9 mm). Gross profits also saw an increase, rising to £77.6 million ($118.5 mm) from £60 million in the prior year.
The company expects full-year gross margin at the of around 40% to 42% of revenue this year, despite the increase in value-added sales promotions, such as September’s “Save and Spend” promotion which offered shoppers vouchers totaling £5 ($7.90) price discounts on purchases of at least £30 pounds.
In other news, the first-half saw JJB restructuring senior management. The company appointed Kate Hayes, a former international retail director at Ben Sherman and a buying director at Nike Inc., as a trading director last month, while Ron Rome became retail director in April. The company recently disclosed that Debbie Robinson, formerly head of food marketing at The Co-Operative Group, will run JJB’s marketing.
