Tuesday July 10, 2012
No Euro boost for JJB Sports
LONDON: British sportswear retailer JJB Sports Plc said sales fell sharply for the first half of the fiscal year as the Euro 2012 championship failed to boost demand, already hurt by bad weather, sending its shares down 29%.
JJB Sports has been losing money for more than three years and has suffered from the success of larger rivals. It received a lifeline when US retailer Dick's Sporting Goods Inc invested £20mil in the company in April. Reuters