JJB Sports plc total revenue for the 17 week fiscal period that ended on the 25th of November, including both the retail stores and the health clubs, was 1.6% higher than the same period last year and includes a same store increase of 1.6%. For the Group's retail stores only, the increase in total revenue for the period was 0.5% with a comps increase of 1.4%.
The increase in total revenue has been accompanied by an increase in the combined gross margin which is slightly higher than the recent 380 basis points improvement for the 8 weeks to 23 September 2007 which was reported in the retailer's last interim report.
The JJB board remains cautious about the current retail market conditions and the likely impact on the business and the board still believes second half sales will be flat to last year.
Future Prospects
The disappointing exit of the England team from the finals of the Euro 2008 competition is not anticipated to have any material impact upon the results of the current period that ends January 2008. As far as the next accounting period is concerned, JJB is not expecting any incremental revenues from Euro 2008. The retailer received a considerable boost from the tournament last year.
Roger Lane-Smith, JJB's Non-executive Chairman, commented, “We continue to be cautious about the retail market outlook both in the run up to Christmas and into 2008.”
