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JJB Sports
From Wikipedia, the free encyclopedia
| JJB Sports PLC | |
|---|---|
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| Type | Public limited company |
| Founded | 1971 |
| Headquarters | Wigan, England, UK |
| Key people | Roger Lane-Smith, Chairman Dave Whelan, Honorary President |
| Industry | Retail |
| Products | Clothing Sportswear Sports equipment |
| Operating income | £46.4 million |
| Net income | £34.6 million |
| Employees | 9,417 |
| Website | JJB Sports Online |
JJB Sports PLC is one of the United Kingdom's leading sports retailers.
Contents |
The sportshop chain was founded in 1971, when ex-footballer Dave Whelan acquired a single sports shop in Wigan. The original store was established by JJ Broughton in the early 1900s and was then bought by JJ Braddock and then JJ Bradburn. As these initials were all the same the business was known locally as JJB's. When Whelan bought the store from John Bradburn he maintained the JJB name.
During the early 1990s, the store portfolio grew to 120 stores by 1994, at which point the company was floated on the London Stock Exchange. In 1998, JJB Sports acquired the business of Sports Division (which was JJB's largest competitor at the time). The acquisition then made JJB one of the largest sports retailers in the UK., focusing on sports 'clothing' rather than sports 'equipment'.
Duncan Sharpe, chief executive of JJB sports committed suicide in 2002. Mr Sharpe had been with JJB Sports for 19 years and was the son-in-law of the firm's founder David Whelan. By 2005, JJB had expanded to over 430 stores throughout the UK and Ireland. It had also opened a new branch in Amsterdam in 2002.
On 8 June 2007, Whelan sold his residual 29% stake in the firm for £190 million to Icelandic financial group Exista and Chris Ronnie, a sports retailer who previously worked at Umbro and Sports Direct.[1]
On the 19th October 2007, JJB bought a 10.1% stake in Umbro in a move to protect its stake in the market for England football shirts.[2]
In 2005 JJB Sports launched their online shopping site, JJB Sports Online Store, with a view to expanding their market into cyberspace. The majority shareholder of JJB Sports Plc was Dave Whelan but his 29% stake was sold off in 2007. JJB Sports doesn't just sell sports clothing, they also have health and fitness clubs and 6 soccer domes where people can play five-a-side football in well-organised leagues. JJB is also the official retail partner to two of the U.K's biggest clubs, Rangers and Everton, the deal with Rangers reported to be worth an initial £18 Million, rising to around £54 Million over ten years, with bonuses for reaching sales targets, while the Everton deal which commenced in 2004 involves the day to day running of the merchandising in the club. It is worth an estimated £100 million over 10 years and incorporates as with Rangers the multi-million contract with Umbro. JJB also makes and sells the kit of Championship side Leicester City Football Club, and is the current main shirt sponsor for local English Premier League outfit Wigan Athletic F.C..
In 2003 JJB Sports were fined £8.3 million by the Office of Fair Trading (OFT) for fixing the price of England and Manchester United shirts in 2000 and 2001[3]. Which Consumer magazine issued proceedings against JJB Sports to sue the high street retailer for damages on behalf of consumers who were affected by the price fixing. [4]