Sportswear firm JJB's profits hit by price war
20/04/2006 - 07:55:47British sportswear firm JJB Sports today posted a 45% fall in profits as a vicious price war took its toll.
The England-based company said falling sales and heavy discounting at its 438 stores sent operating profits tumbling from £62.1m (€90m) to £34.3m (€49.7m) in the year to January 29.
The “disappointing” result was in line with revised City expectations and came after a string of profits warnings as JJB suffered at the hands of rivals such as Sports World.
