JJB Sports cautious on profits

Retail group JJB Sports lowered profit expectations today after revealing details of a tough summer for trading.

Like-for-like sales fell 4.4% in the 26 weeks to July 29, leaving profits for the period £3.5m (€5.1m) short of hopes at around £8m (€11.8m).

While comparisons with the World Cup in 2006 impacted on the result, JJB also provided cautious guidance for the second half of its financial year.

It said it would be “prudent to assume” that the 26 weeks to January 27 will produce a result similar to a year earlier, when profits of around £27m (€40m) were achieved.