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Jd Sports Reveals £700,000 Stock Was Looted

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http://www.independent.co.uk/news/business/news/jd-sports-reveals-700000-stock-was-looted-2358344.html

Retailer JD Sports Fashion today revealed that £700,000 of stock was looted in last month's riots while one of its stores has yet to reopen after suffering fire damage.

A total of 16 stores in London, Nottingham, Manchester and Birmingham were hit by the disorder, with six in London suffering "very significant thefts".

.....

Despite the effect of the riots and store closures, the chain said like-for-like sales excluding VAT increased by 1.6% in seven weeks to September 17, underscoring its credentials as one of the top performing retailers.

However, it also revealed that underlying pre-tax profits declined 17% to £16 million in the half year to July 30 as its margins were squeezed by the impact of faltering consumer confidence and the increase in VAT.

Love the paradox it's one of the top performing retailers whose pre-tax profits have declined. Spin any spin doctor would be proud off.

I wonder if the increased sales included the nicked stop which will be refunded via insurance???

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http://www.independent.co.uk/news/business/news/jd-sports-reveals-700000-stock-was-looted-2358344.html

Love the paradox it's one of the top performing retailers whose pre-tax profits have declined. Spin any spin doctor would be proud off.

I wonder if the increased sales included the nicked stop which will be refunded via insurance???

The executive was cagey about the insurance. Do you reckon they added a couple of extra tellies to the claim ? :)

£700k is a lot of trainers to loot. was that stock lost??

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The trainers cost less than £1 to make, the clothes will be pence per item. That £700, 000 they are claiming off the taxpayer actually cost them about £7000. So a nice little earner of 9900% on their initial investment.

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You can be sure that they've arrived at this figure using the RRP rather than the actual tag price of the goods looted. IIRC many looters were loading up in "Sale" carrier bags.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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