Like-for-like sales fell 7.5% at Blacks Leisure in the 17 weeks to June 26.
Sales were £53.9m compared to £76.9m for the same period last year, which included sales from stores now closed following the retailer’s Company Voluntary Arrangement in December, resulting in the closure of 107 stores.
The outdoor specialist said that its fall in sales came primarily from a tough trading period in May. It said that the group has been able to increase gross margin however by 1.1 percentage points for the period.
Blacks, which has its AGM later today, said that the new stores it has opened since its restructure have performed well, on average 39% above the rest of its portfolio. It will open eight more stores before the end of its current financial year, helped by its fund raising earlier in the year through placing and open offer, which raised £19.7m.
Blacks said: “Despite the adverse trading conditions in May the board is encouraged by the progress on the new store programme and confident that the plans for the critical winter trading period are well advanced.”
Initiatives that Blacks are implementing this year include a customer loyalty card and a new store training programme. It also said it would bring in a range of branded lines that would be exclusive to the retailer.