Sales boost for struggling JJB
Retailer JJB Sports revealed a boost in its battle for survival by announcing an improvement in sales over the Christmas period.
The company, now with 195 sites after closing a number of unprofitable stores, said like-for-like sales increased 5% in the four weeks to Boxing Day, albeit against a weak performance the previous year.
JJB said the performance was broadly in line with expectations, but pointed out that trading during the January sales, European football championships and London Olympics would be key to its revival in the year ahead.
Last year, JJB was forced to secure £96.5m in funds from major shareholders, as well as announce plans to close 43 unprofitable stores and place a further 46 on review in a bid to stave off administration.