SPORTSWEAR firm JJB Sports is expected to post a massive fall in profits this week after a vicious price war on the high street.

Pre-tax profits at the Wigan-based retailer are likely to slump to é34m from é62m for the same period last year.

Investors will expect improved sales and margins as JJB tries to turn the tide ahead of the World Cup.

ASSOCIATED British Foods, the owner of low-cost clothing retailer Primark, is expected to post a small rise in pre-tax profits of just é1m to é260m on the back of a six per cent rise in half-year sales.

The group, which also owns British Sugar and is currently locked in a é300m battle for a controlling stake in Africa's leading sugar producer Illovo, is also expected to update the City this week on the refurbishment of the 41 stores which it bought from Littlewoods last year.

SHOPPERS will splash out é10.5bn over the Easter holidays - not on chocolate but on updating their wardrobes.

The Centre for Economics and Business Research (CEBR) said what the average household spend over the four-day break was up two per cent on last year at é434.

The group said more people would be more eager to hit the high street and shopping malls than usual after the long, cold winter had deterred them from going out.

AIRPORT owner BAA has fended off a second multi-billion pound takeover bid.

Investment bank Goldman Sachs contacted BAA to register its interest in a friendly 'white knight' bid worth é9.4bn, following the rejection of an é8.74bn offer from Spanish consortium Ferrovial last month.

But BAA, which owns seven UK airports including Heathrow and Gatwick, and has interests in the US, Australia, Italy and Hungary - said the Goldman bid, received on March 30, failed 'to reflect the true value of the company.'

In a statement, BAA confirmed that it had not heard back from Goldman since the rejection.

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