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Blacks Leisure sales drop 1.8%

Like-for-like sales at Blacks Leisure dropped 1.8% for the 19 weeks to July 11, as the group continues talks with its lender over renewing its facilities.

At the group’s outdoor division, which includes the Blacks and Millets chains, like-for-likes were down 1.6%, while the boardsports business, which includes the Freespirit and O’Neill stores saw a drop of 3.2% on a like-for-like basis.

A statement from Blacks Leisure said that the group was performing “satisfactorily”. It added that the improvement in the boardsports division’s performance reflected the conversion of seven stores to its outdoor formats earlier in the year.

Blacks Leisure said that its new format Blacks and Millets stores had experienced sales growth of 10.4% above the chains’ average sales growth, over the period.

The company added that converting the rest of the boardsports fascias was an important part of the group’s turnaround plan and that it was in “an advanced state of negotiation” with Lloyds bank to get more funding to convert stores.

The statement added: “The board has confidence that this process will be completed rapidly to enable the group to focus on the continued delivery of the business turnaround plan.”

Blacks Leisure has 256 Millets stores, 127 Blacks shops, 31 Freespirit stores and 12 O’Neill shops.

Blacks Leisure non-executive directors Claude Littner and Andrew Mallett have stepped down to pursue other business commitments.

 

 

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