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Blacks trading in line with expectations

Blacks said trading had been in line with expectations since Christmas and that it was continuing talks about a potential offer for the group.

Blacks said that the outdoor division had performed well against the backdrop of a difficult retail market but noted that the boardwear division had continued to perform poorly.

Blacks added that its new format stores within its outdoor division had outperformed the rest of the chain significantly, running at 21% ahead at gross profit level since conversion.

Blacks said that it continued to progress with its plans to reduce the impact of the poorly performing boardsports division on the company as a whole and noted it had already converted eight boardsports stores, nearly a quarter of the boardsports estate, to outdoor formats since the start of the year. It added that is planned to exit the boardwear market fully in the longer term.

Separately Blacks said it was continuing with active discussions regarding a potential offer for the group but that these remained at an early stage.

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