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The sportswear retailer saw like-for-like sales in the first three weeks of this month drop 32 per cent after it had previously seen an upturn in performance during the past three months.
It issued a cautious outlook for Christmas trading, stating that conditions remain "difficult" and that it will not receive its full amount of stock "until the first quarter of 2010".
As a result, shares in JJB Sports fell during the morning session of stock market trading today (December 17th), retreating 4.46 per cent to 26.75p at 09:52 GMT, Reuters reports.
The decline in like-for-like sales in December was blamed on the fact that the retailer's sale started on November 25th during 2008, whereas this year it will not begin until December 26th.
However, the company said that although it has not yet taken delivery of all its stock, existing levels are up on the first half of 2009 and are currently 19 per cent down on the second half of 2008, with the total value being £81 million.
Posted by Greg Secker
