Blacks Leisure Group, the U.K. outdoor specialty chain, said its outdoor business had performed well since Christmas despite tough conditions in the retail market. However, the group, which is in the second year of a turnaround plan under it current chief executive, Neil Gillis, said its boardwear business continued to “trade poorly.”
Late last year, Blacks said it would consider selling boardwear but has since decided to convert the shops into outdoor stores and has made eight conversions so far this year.
Blacks, which has 428 stores in the U.K., said talks about its possible sale were continuing and that fourth quarter trading was as expected, despite a poor performance from its boardwear unit. The company also said it expects to incur an exceptional charge of around £1.7 million ($2.4 million) due to its exit from boardwear and a further £3.2 million ($4.5 million) because of store closures.