- Compass Group 887.00 0.00
- Croda Intl. 2,529.00 0.00
- Eurasian 254.80 0.00
- Hsbc Hldgs.uk 726.00 0.00
- Next 4,580.00 0.00
- Woburn Energy 1.50 0.00
- Xtract 0.13 0.00
JJB margins recover
Thursday, 5th January 2012
Sports fashion retailers JJB Sports said group like for like sales for the 4 weeks ended 26th December 2011 increased by 5% and cash gross margin increased 6%. Cumulative like for like sales in the second half of the financial year for the 21 weeks ended 26th December 2011 have decreased by 7.8% compared to a decrease of 17.7% in the first half (the 26 weeks ended 31 July 2011).
In the same period our like like cash gross margin decreased by 3.2% compared to a decrease of 31.7% in the first half. Cumulative like for like sales for the 47 weeks ended 26 thDecember 2011 have decreased by 13.5% and like for like cash gross margin has decreased by 20.8%.
Keith Jones, CEO, said: "Our overall trading has improved in the second half of the financial year and we achieved a Christmas trading performance broadly in line with our expectations in the face of an extremely challenging consumer environment.
Looking ahead, the ongoing credit squeeze on consumers and weaker UK employment numbers creates a tough environment. We continue to implement our turnaround aware of the importance of the periods of the January sales, European football championships and London Olympics".
Story provided by StockMarketWire.com
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