Sales collapse at JJB Sports
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.SHARES IN JJB Sports slumped by 27 per cent to a 12-month low yesterday after the UK's largest sports retailer revealed that a shortage of products led to a collapse in sales at recently-acquired Sports Division.
The company said the former management of Sports Division, bought in July for pounds 292m, misread the market and bought up to 20 per cent less stock than needed. This led to a 15 per cent fall in like-for-like sales in August and September.
The core business posted a 4 per cent fall due to poor weather and waning consumer confidence. In the six months to July, JJB reported a 16 per cent rise in profits to pounds 16.5m on sales up 31 per cent to pounds 115.6m.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments