| Updated:
JJB sales fall but margins improve
JJB Sports, which is in the middle of a turnaround plan, saw its like-for-like sales fall.
The company’s sales for the five weeks to 29 January have fallen 5.7 per cent .
However, its gross margin increased by 32.1 per cenT.
Meanwhile like for like sales in the second half of the financial year for the 26 weeks to 29 January decreased by 7.6 per cent compared to a fall of 17.9 per cent in the first half.
The company’s net debt stands at £11.3m.
JJB chief executive Keith Jones said: “Since our Christmas trading update our like for like cash margins have continued to improve and our full year trading performance is broadly in line with our expectations in the face of an extremely challenging consumer environment.”