JJB Sports has issued a profit warning, blaming the recent bad weather for poor sales at its sportswear stores. It said profits for the year to January 2005 were set to be about 20% below analysts' forecasts of �88m ($160m).
JJB said that despite a boom in replica kit sales linked to the Euro 2004 football tournament, bad weather and tough competition had hit sales.
Like-for-like sales at JJB's stores during the six months to 4 July were down 1.1% on the same period last year.
Shares in JJB slumped in early trade. By 0712 GMT they were down 34.5 pence, or 16%, at 182p.
Stormy weather
JJB added that sales in the six weeks to 15 August had suffered in the recent "unseasonably wet weather".
Sales volumes of summer clothing products - such as T-shirts, polo shirts and shorts - had been hit by the rainy summer, as well as tough competition from rivals, the firm said.
However, the Wigan-based firm added it would continue with its drive to expand into the "very profitable combined health club and superstore concept".
It also said that its store opening programme remained "fully in place".
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