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Blacks Leisure hit by weak surfwear sales

Blacks Leisure saw like-for-like sales fall 5.4% for the 19 weeks to July 12, largely because of poor performance at its boardsports division.

Blacks Leisure said that the boardsports division, which includes the Freespirit and O'Neill chains, saw like-for-like sales plummet 15.5% for the period. The outdoor division performed slightly better with like-for-likes down 2.2%, and this was against strong comparatives. For the same period in 2007, outdoor like-for-like sales were up 27.8%.

Blacks Leisure said that the peak camping season, which runs through July and August and accounts for more than 20% of its annual sales, had started well with like-for-like store sales up 6.1% for the group.

Blacks Leisure said performance was in line with expectations and that cost savings were ahead of target. The group has made year-on-year savings of £2.4 million to date and expects to hit its full year target of £3m.

Blacks Leisure added that the combination of improved margins and the strong performance on cost had ensured the business remained ahead of last year's profit before tax level.

Blacks Leisure added that its two new test stores at Kensington and Holborn in London were continuing to trade ahead of expectations and that it planned to convert a further five sites in Edinburgh, Bristol and Newcastle in September.

Readers' comments (1)

  • What they didn't tell you was that the O'Neill stores had no stock deliveries for 4 weeks, while they moved the stock from Washington to Northampton, they needed stock to sale but didn't have any.

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