JJB chairman steps down
JJB Sports chairman Mike McTighe says he will step down
after the company issued another profits warning.
Robert Corliss, who is currently president and chief
executive of menswear company Robert Talbott, will replace Mr McTighe on
September 1.
The sportswear firm, which was rescued by Dick’s Sporting
Goods back in April, attributed its recent financial woes to bad weather and
England's poor performance at Euro 2012.
Sales in the 22 weeks to July 1 fell 8% on the back of
what it described as a "deterioration in trading performance against
management expectation".
Share prices dropped 26.4% when the company revealed that
its net debt was at £15.4 million.
Mr Corliss said: "JJB has been through some
difficult times yet it is clear that there is a real market opportunity for a
national authentic sports retailer here in the UK.
“JJB can be that retailer, and I'm energised by the
prospect of leading the company through the next phase of its turnaround."
