Caution is still the word at JJB Sports, the U.K. sports retailer, as it faces a tough retail environment in the second half of the year. At its annual general meeting today, JJB announced that its sales slid by 1.2 percent for the 12 weeks to July 20 on a comparable basis, counting only operating units that have been trading for over 52 weeks. This decline combines a sales drop of 2 percent in retail stores with a sales increase of 5.9 percent for JJB’s health clubs. The management remains optimistic about its new store format, which has brought about significant improvements in sales of the revamped stores. Another initiative that was highlighted in JJB’s trading statement was the extensive training program attended by nearly all of its store managers, as well as a new bonus scheme for retail staff. The company’s management is still cautious about its outlook for the remainder of the year, predicting a very challenging time. Meanwhile JJB has completed the acquisition of Qube, a trendy chain of 22 shoe shops, from West Coast Capital for £1in cash.