Blacks Leisure Group total group retail sales have risen by 2.7% in the 25 weeks to 19 August. Like for like retail sales declined by 0.4% in the same period. In 2005 comps fell 4.4%. Given the continuation of these disappointing sales trends, the Board of Directors now expect the half year result to be broadly at break-even level. The Board’s
expectations for the second half are for profits to be broadly in line with the second half last year.
Blacks like for like sales have risen by 4.1% and the gross margin has
increased. Freespirit and ONeill combined have also seen an improvement in like
for like sales by 3.5% with increased gross margins.
Millets have seen their like for like sales decline by 5.6% with a small fall in
gross margin reflecting investment in price competitiveness. The like for like
sales fall has been driven by unusually weak camping and related equipment
sales, whilst clothing sales have been positive.
