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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