JJB eyes World Cup boost

Embattled JJB Sports today said its stores were stocked and ready for World Cup fever in England, but annual results revealed the pain of a dire year that brought the group to its knees.

The sportswear retailer said underlying pre-tax losses more than trebled to £68.5m (€80.8m) in the 12 months to January 31 – a year that saw JJB narrowly stave off administration by agreeing a rescue deal with its landlords.

JJB has since regained its poise and said comparable sales in the 16 weeks of the new financial year were up 7.5%, with revenues in May growing by 19%.

The World Cup tournament also offers a “significant opportunity” to boost business with replica kit sales, according to the group.

However, it outlined a revival strategy that will widen its focus to all major sporting events and see its store network overhauled as it seeks to reclaim leadership of the £5bn (€5.9bn) sportswear market.