JJB Sports staff reap pounds 4.5m
Tuesday 25 November 1997
The senior staff, which include area managers, buyers and warehouse managers, were granted the options over JJB shares when the retailer came to the market in 1994. The shares, which started trading at the equivalent of 77p three years ago, closed at 604p last Friday, a rise of 684 per cent though they edged down to 593.25p yesterday. The current market value of the shares under option is pounds 5.15m, with a gain of pounds 4.5m.
In its three years on the market JJB has grown its turnover from pounds 60.5m to pounds 130m while profits have risen from pounds 7.6m to pounds 20.3m
David Whelan, chairman of JJB said: "I believe that no business can grow at this rate without significant input of time and effort by its staff and I am delighted that so many of our senior staff are benefiting from the company's success over the last three years."
Mr Whelan said he was confident that a significant number of the shares would be retained by the staff though some kind of "spending spree" is expected.
JJB had 123 stores at the time of flotation. It opens its 200th outlet next month. The company has benefited from the surge in popularity in branded sportswear with clothing and trainers from companies such as Adidas, Nike and Reebok.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 MH370: 'Putin ordered plane to be flown to Kazakhstan space port,' conspiracy theory claims
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...