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How the Global economic disaster would have affected JJB sports (Essay Sample)

1) Go to 2) Look at the reports from about 2007 - 2010. (As this is when the credit crunch hit) 3) See if you can get anything from the report about how they have been effected by the harsh economic times. - Just as an example if you look at 2008 reports page 3 the chairman talks about the harsh economic times! 4) Generally work out how the credit crunch would have effected a retailer (a few examples below) - Higher buying costs - People have less money to spend on "leisure sporting goods" - Banks less willing to lend 5) Write 500 words on this. You might want to split it into 5 manageable chunks of 100 words. Like 5 paragraphs, just to make it as easy as possible. source..
How the Global economic disaster would have affected JJB sports
JJB Sports plc is a leading quoted sports retailer in UK. The company deal in high quality branded sports and leisure clothing. It also sells footwear and various accessories. It operates over 400 retail stores in major towns of the United Kingdom. The company also sells its wares via the internet and through many other channels. JJB Sports plc also has various stores in Ireland. The company sells products such as footwear, equipment, sports textiles, replica shirts, accessories, golfing and cycles products.
The Global economic disaster that erupted in 1997 affected JJB sports adversely. It caused a severe economic depression that saw many businesses becoming bankrupt and several people loosing their jobs (Chossudovsky & Marshall 2010 pg 241). It caused an economic meltdown leading to rapid rising of the price of key resources that main economies depend on. These included prices of items like oil and food. Billions of people therefore felt the burden of the disaster as the prices of basic commodities like food and clothing shot up by 30 to 40 percent.
Like all the other major companies, JJB sports saw a decline in several areas of their operations. Mr R. Lane-Smith, chairperson of the company while giving a statement in May 2008 said that he was introducing various measures to boost the performance of the company particularly on the retail store chain. He said that the companies profit has been declining gradually over the previous years. There were many stores, which he said that were underperformin...
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