Blacks reports sales growth
Leisure retailer sees late impact
Blacks Leisure has joined the ranks of retailers reporting a late sales rush which rescued Christmas sales, but has seen margins hit in a tough boardwear market.
The group, which operates the Millets, Blacks,
Outdoors, Free Spirit, O’Neill and Just Add Water stores, said that its performance for the year to the end of February 2005 is expected to be in line with market expectations.
Blacks like-for-like sales in the eight weeks to January 15 grew by 6.2 per cent, with total retail sales up by 14.2 per cent. In the 20 weeks to January 15, like-for-like retail sales grew by 9.4 per cent, with total sales up by 16.4 per cent.
Russell Hardy, chief executive said: “Although Christmas trade was late arriving, a strong performance in the days immediately prior to Christmas and a very successful reaction to the sale have produced strong growth in turnover.
“However, stock clearance activity, particularly in Boardwear, and weak trading in O’Neill have led to the reduction in margin for the half year to date. We remain confident of a good result for the year overall.”
