Spotlight on: Keith Jones, JJB Sports chief executive

Not seen this chap before.

Well, there is no reason for you to know him, unless you are a retail aficionado of electricals and sports equipment.

Why's that?

He has been the chief executive of JJB Sports since March 2010 and was previously the group retail director at Dixons.

What type of operator is he?

A straight-talking retailer; a stock and store man through and through. He is also a bit of a workaholic.

For example?

Apparently, he didn't take a single day off in his first 18 months at JJB.

Hasn't JJB had problems?

You could say that. JJB came close to collapse in 2009 and 2011, but saved itself on both occasions by implementing an insolvency procedure to shed scores of stores.

Tough love for investors?

No kidding. Its shares traded at 293.5p in May 2007 and it's been largely downhill since then. Its investors have ploughed £196m into JJB via three fundraisings since October 2009.

How is it trading?

Not great. Its like-for-like sales fell by 5.7 per cent for the five weeks to 29 January, and it is still on track for a full-year loss of up to £60m.

Oh dear...

Well, there were some positives. The decline in sales has slowed, and JJB increased its cash gross margin by 32.1 per cent recently.

Anything else?

Its year-end net debt came in at a lower-than-expected £11.3m. This helped to push up JJB's shares to 11.5p, giving it a market capitalisation of £33.73m.

Sounds promising for him?

Under a five-year scheme to 2016, Mr Jones and its chairman, Mike McTighe, could each receive over £18.4m in shares, if JJB's market value soars.

Blimey ...

Steady on. The odds on JJB's market capitalisation reaching £490m by April 2016 are long.

More hard work then?

Yes, but Mr Jones seems used to it.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Ashdown Group: Trainee Consultant - Surrey / South West London

£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...

Ashdown Group: Trainee Consultant - Surrey/ South West London

£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...

Recruitment Genius: Client Services Assistant

£18000 - £20000 per annum: Recruitment Genius: A Client Services Assistant is ...

Ashdown Group: Junior Application Support Analyst - Fluent German Speaker

£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...

Day In a Page

No postcode? No vote

Floating voters

How living on a houseboat meant I didn't officially 'exist'
Louis Theroux's affable Englishman routine begins to wear thin

By Reason of Insanity

Louis Theroux's affable Englishman routine begins to wear thin
Power dressing is back – but no shoulderpads!

Power dressing is back

But banish all thoughts of Eighties shoulderpads
Spanish stone-age cave paintings 'under threat' after being re-opened to the public

Spanish stone-age cave paintings in Altamira 'under threat'

Caves were re-opened to the public
'I was the bookies’ favourite to be first to leave the Cabinet'

Vince Cable interview

'I was the bookies’ favourite to be first to leave the Cabinet'
Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat
Saudi Arabia's airstrikes in Yemen are fuelling the Gulf's fire

Saudi airstrikes are fuelling the Gulf's fire

Arab intervention in Yemen risks entrenching Sunni-Shia divide and handing a victory to Isis, says Patrick Cockburn
Zayn Malik's departure from One Direction shows the perils of fame in the age of social media

The only direction Zayn could go

We wince at the anguish of One Direction's fans, but Malik's departure shows the perils of fame in the age of social media
Young Magician of the Year 2015: Meet the schoolgirl from Newcastle who has her heart set on being the competition's first female winner

Spells like teen spirit

A 16-year-old from Newcastle has set her heart on being the first female to win Young Magician of the Year. Jonathan Owen meets her
Jonathan Anderson: If fashion is a cycle, this young man knows just how to ride it

If fashion is a cycle, this young man knows just how to ride it

British designer Jonathan Anderson is putting his stamp on venerable house Loewe
Number plates scheme could provide a licence to offend in the land of the free

Licence to offend in the land of the free

Cash-strapped states have hit on a way of making money out of drivers that may be in collision with the First Amendment, says Rupert Cornwell
From farm to fork: Meet the Cornish fishermen, vegetable-growers and butchers causing a stir in London's top restaurants

From farm to fork in Cornwall

One man is bringing together Cornwall's most accomplished growers, fishermen and butchers with London's best chefs to put the finest, freshest produce on the plates of some of the country’s best restaurants
Robert Parker interview: The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes

Robert Parker interview

The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes
Don't believe the stereotype - or should you?

Don't believe the stereotype - or should you?

We exaggerate regional traits and turn them into jokes - and those on the receiving end are in on it too, says DJ Taylor