Shares in JJB Sports leapt 14 per cent in early trading as the group announced an improvement in sales over the Christmas period.

The ailing sports goods retailer saw like-for-like sales for the four weeks to Boxing Day increase by 5 per cent, sending the share price up to 6.15p, a 55p increase, at 9.20am.

A strong Christmas means like-for-like sales for the 21 weeks to 26 December were down 7.8 per cent compared with a 17.7 per cent slump for the six months to 31 July.

Last year JJB closed 43 unprofitable stores leaving the group with 195 UK outlets. A further 46 stores remain under review and JJB was also forced to secure £96.5 million from shareholders as it battled for survival during 2011.

CEO Keith Jones said the improved performance was in line with expectations but admitted the group faced a critical 2012.

'Looking ahead, the ongoing credit squeeze on consumers and weaker UK employment numbers creates a tough environment. We continue to implement our turnaround aware of the importance of the periods of the January sales, European football championships and London Olympics,' he said.