Discount store halts disastrous profits slide

Jul 23 2008 by Barry Turnbull, Liverpool Daily Post

"In September, 2007, the company vacated a store in Blackburn where the town centre is being redeveloped. This resulted in reduced net trading space of 43,000 sq ft to 1.739m sq ft. The company received compensation of £3m.

"A return to like-for-like sales growth was achieved in the year along with gross profit percentage and profit.

"The company plans to continue this trend of sales growth while maintaining gross profit percentage and controlling costs.

"The external environment remains challenging with retail high street footfall in decline, growth in internet shopping, non-food value merchandising from supermarkets and some mid-market players. However, the company's ability to offer discounted branded product across a wide portfolio remains its key strength."

TJ's was bought by sports chain JJB in 2002, but was later sold and is now owned by private equity firm Silver Fleet Management.