STOCKS NEWS EUROPE-JJB Sports down on profit warning

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11:14GMT 14Jan2009-JJB Sports down on profit warning

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Shares in JJB Sports (JJB.L) fall 16 percent to 11.5 pence after the struggling British sportswear retailer warns on its full-year profit as sales over the Christmas trading period slide.

"Sales progress over Christmas was broadly as expected but gross margins progress was not as good as hoped, hence JJB guides that it will make a loss of 5 million to 10 million pounds in 2009," say Altium analysts in a note.

"The core retail operation clearly continues to face challenges, and we expect the retail background to get worse before it gets better," they add.

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