Blacks Leisure Group, the U.K.s largest outdoor retail chain, reported that total sales for the 19 week period through July increased by 5.2%. Comparable-store retail sales fell by 2% for the same period, compared to a 4.2% increase last year. The retail chains overall gross margin is 250 basis points ahead of last year due to improved supplier terms, lower discounts due to improved stock and financial controls, and weakness of the U.S. dollar.
The company stated that the current retail market in Great Britain remains challenging and the company does not expect to see much improvement in these conditions. Blacks' Board continues to believe that its strategy of focusing on its leading positions in Outdoor and Boardwear should prove to be the best strategy for the year as a whole.
Blacks operates two different Outdoor retail chains, Millets with 270 stores and Blacks Outdoor with 93 Stores. In Board Sports, Blacks operates three different chains, Freespirit with 37 stores, Just Add Water with 13, and O'Neill with 16 doors.
