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JJB sales drive fails to deliver

The retailer launched a price offensive for the autumn and Christmas period to protect its "Serious about Sport" turnaround strategy from the challenging high sreet trading conditions.

CITY & CORPORATE

JJB sales drive fails to deliver

Excluding value added tax, like for like (LFL) sales for the period from 2 August 2010 to 7 November were up 11.5% on the corresponding period of last year.

That’s below the rate achieved in the year to date (YTD). Year to date LFL sales are up 13.4% compared to the equivalent period last year, a slight improvement on the 13% YTD rise the company reported at the end of September.

Year to date gross margin is 40.6%, but in the period covered by the trading update it was 37.6%, reflecting significant promotional activity.
 
The board believes that current trading conditions are having and will continue to have a negative impact on its expectations for the full year - although the outcome remains heavily dependent on our performance during the important pre-Christmas and New Year sale periods.

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