Black's Leisure fiscal first half revenues increased 3.8% to £146.8
million compared to £141.3 million last year. Comparable store sales
grew 3.0% with a strong recovery at Millets as comps grew 6.4%. There
was also marked improvement in Blacks and Millets performance during
the May – August period. Gross margin was 54.5%, a slight decrease
compared to 55.8% last year.
The retail group's margin and results were negatively impacted by
aggressive stock clearance during March. The new Freespirit banner will
continue to be developed given management's view of its future
potential. The U.K. outdoor retailer reported a 1.04 pence loss per
share compared to earnings per share of 0.12 pence last year.