QUESTION marks today hang over seven Hampshire branches of sports chain JJB Sports after it said it was shutting 72 stores with the loss of 800 jobs.
The news is another blow to the hard-pressed high street, coming as discount clothing chain Ethel Austin went into administration and figures from the British Retail Consortium showed the first monthly sales drop for nearly two years.
Wigan-based JJB, which has more than 400 outlets including stores in Southampton, Winchester and Fareham, said the stores in question were unlikely to make any "significant contribution" to group profits and that many were already close to newer and larger stores in its estate. The sites will shut by the end of this month.
JJB said 1,200 jobs will be affected overall, but 400 of the positions will be deployed elsewhere in the business. Seven of the sites are due to rebadged as Original Shoe Company, a retailer acquired by JJB earlier this year.
The moves were announced as JJB said profits fell by 28 per cent to £33.8m last year.
JJB joined other retailers in warning that it did not expect any respite from the difficult economic conditions in the short term.
It said total revenues for JJB stores and fitness clubs for the seven weeks to March 16 were 3.5 per cent lower than the same period last year.
JJB's fortunes have been impacted by its exposure to the replica kit market and the failure of any of the home nations to qualify for this summer's Euro 2008 football tournament.
Chairman Roger Lane-Smith said: "While we have identified a number of stores for closure we are also investing to improve the quality of our stores and products with further store refits and the introduction of new products."
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