Retailer blames weather and poor sales
Blacks Leisure Group has issued a profit warning, citing disappointing sales and an exceptionally mild autumn.

Like-for-like sales were down 6 per cent for the 5 weeks ending December 30 and total sales - including new stores - slid 3.5 per cent for the same period.

According to the retailer, the poor sales performance was a knock-on effect of the weaker clothing market, combined with a significant shortfall in sales of the heavy weight and cold-weather products that the company specialise in.

In the 18 weeks to December 30, like-for-like retail sales were down 4.8 per cent, with total sales falling 2.3 per cent.

Blacks Leisure Group chief executive Russell Hardy said: 'These results are extremely disappointing. The Christmas and early post-Christmas period, which is always important to us, proved to be very difficult.

'The combination of our high operational gearing and the continuation of the shift to milder weather, makes our work on product development and improving our store portfolio even more important to ensure this performance is reversed.'

Hardy added that he remains positive about the medium-term prospects for the Group, anticipating improved returns for the business in future financial years.

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