I attended the annual shareholder meeting today. For those of you who have never attended one, they are a great opportunity to meet senior management and ask questions. I have been treated with unfailing courtesy over the years.
While the business portion of the meeting was rote, I learned some background on the JJB Sports investment. Prior management at JJB had made some merchandising mistakes, including a move into fashion wear instead maintaining a focus on core athletes. Add in the macroeconomic decline in Great Britain and JBB, an otherwise OK operator, was in need of assistance. JJB came to DKS for help. DKS management is confident in current JJB management and figures to assist them in righting the ship. I don't doubt they will succeed....profitably.