Sportswear retailer JJB Sports is expecting a full year loss of £10m after taking a hit in sales. Its lifestyle division has performed particularly badly.
With the exclusion of its lifestyle business, the group has reported a like-for-like decline in sales during the Christmas period of 6%.
Its lifestyle division, which includes the Original Shoe Company and Qube chains, saw a loss of around £15m in the year to January 25.
While revenues at its health clubs rose 8.4% in the five weeks to January 11, they were down 8% at its retail stores.
The group is now undertaking a review of its business and says it will be considering its options regarding the future of its lifestyle division.
The company says: “[JJB Sports] is now expecting to record a loss before tax and exceptional items of between £5m and £10m, before any one off costs associated with the banking facilities, for the 52 weeks ending Jan. 25 2009.”