JJB to return £40m to shareholders despite sales dip

Sports goods retailer JJB said it had experienced a sluggish start to the Christmas period and like-for-like sales for the 23 weeks to January 4 were down 3.5%

Despite this, JJB’s share price rose 10.5% on the FTSE this afternoon on the back of news that it planned to return £40m (€58m) to shareholders in a tender offer.