JJB sports see profits fall as competition mounts
14/04/2004 - 15:13:43The UK's largest sports retailer, JJB Sports, said today profits for 2003 dropped 12%, as the group faced tough competition from discount retailers and supermarkets.
For the twelve months to January 25, pre-tax profits fell to £67.8m (€101.9m), from £77.3m (€116.2m) the previous year.
The firm said that turnover had been hit by slow sales of replica football kits with poor weather dragging down sales of T-shirts and shorts.
However the group said its leisure division, which operates combined health clubs and retail outlets, was doing well, with seven more outlets planned over the coming year to add to its existing 16.
