Deathwatch: JJB shares drop through the floor

9 July 2012

JJBJJB Sports have watch their shares plummet by a whole 25 per cent after they the expected sales boost from the Euro 2012 championships never emerged. Basically, sales from replica kits didn't happen, which is probably something to do with the fact it feels like England have released around 9 kits since the last international tournament.

Of course, the weather has been pretty lousy too, meaning that people haven't been going to the shops like they would normally.

Sales have a dropped by eight per cent in the 22 weeks ended July 1st, and the net debt as of July 1 was £15.4 million. And Bill Gates has shares in the company, just in case you want a cheap laugh at someone's expense. JJB made losses of £101 million in the year to January.

The Wigan-based JJB Sports narrowly avoided collapsing last year, before striking a partnership with American retailer Dick’s Sporting Goods, which has a funny name. Funds were going to be used to sorting out 60 of its most important outlets, but things are still pretty bleak.

Seymour Pierce analyst Freddie George does not expect JJB to break-even until the 2015 financial year at the earliest and said: "To date there is no evidence that the company has found a niche in sporting goods and a format which is differentiated from its competitors. There must now be question marks over the refurbishment programme."

TOPICS:   High Street News

4 comments

  • Captain M.
    As it turns out by stocking very few items that could actually be used in the act of sport (unless you count running from the police as a sport), JJB isn't a sports shop but merely a chavscum emporium.
  • Dick
    Good. The company is scum. Not just in the crap it sells, but the way it cons consumers and lies to investors. It's not that long ago they were done for price fixing football shirts, and Whelan lied to the Stock Exchange about selling his shares too.
  • Matt
    If the shops would actually sell sporting goods they would maybe make a few quid, even hiking equipment, just now I have to trail around at the big cities for their overpriced stores. as Dick pointed out, Chavs tend to be in there and nick the stores empty. you have to be really poor to walk around with a replica
  • qwertyuiop
    A replica what? Football kit? As opposed to what? A genuine one worn by Wayne "my, that's a rather fine hairpiece" Rooney?

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