Sales are still on the slide at JJB Sports, the retailer that has seemed to be on life support for several years.
It's needed huge cash injections from shareholders to keep going, but reckons the London Olympics and the summer's European football championships will be a vital boost.
In the five weeks to the end of January, sales were off 5.7%.
Good news comes in the form of improving margins and lower debts - £11.3 million - than the scribblers at Numis Securities were expecting.
Chief executive Keith Jones said: "Since our Christmas trading update, our like-for-like cash margins have continued to improve and our full-year trading performance is broadly in line with our expectations in the face of an extremely challenging consumer environment."
Numis estimates JJB's losses for the full year will come in at £54 million.
