After posting first half sales that plummeted 21.3% and margins that fell more than 14 percentage points, it doesn’t appear JJB Sports Plc. will be able to rebound in the second half. The UK-based retailer said that on a like-for-like basis, its revenues were down 29% for the 20-week period ended on Dec.13. JJB also said it would remain cautious regarding Christmas and New Year and that it expects trading to remain difficult.
Overall, revenues were down 52% in the 20-week period.
While August like-for-like sales decreased 37%, the company said September and October like-for-like sales dropped 27% and November like-for-like sales slid 21%.
JJB also stated that like-for-like sales showed a 32% slide in the first three weeks of December as last year's sale started on Nov.25, 2008 and continued up to March 2009. Meanwhile, this year's sale will start on December 26 and the company expects to launch the new Spring ranges before the end of January.
