Jjb Cut Price Clearance a Further Blow to Profits ; Retail

Summary

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Retailer JJB Sports issued its second profits warning in six months yesterday, after price cuts designed to clear old stock cut into the company's earnings.

Although like-for-like sales increased by around 2.5 per cent in the six weeks to January 6, JJB said margins had been impacted by the need to remove "non-current products" from its shops, mainly clothing items.

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Jjb Cut Price Clearance a Further Blow to Profits ; Retail

The company said it expected pre-tax profit for the second half of its year to January 27 to ...

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