At its Annual General Meeting, U.K.s largest outdoor retailer, Blacks Leisure, said that total Group sales for the first 20 weeks of the fiscal year increased 2.6%, but comp sales fell 1.0%. The company stated that the World Cup has had a significant negative impact on Group sales in June and early July.
The Group’s overall gross margin is at the same level as the same period last year reflecting the investment made in maintaining the chains price competitiveness. Management stated that the current retail market “remains challenging” and they expect to see an early improvement in performance for the balance of the first half as the market recovers from the World Cup and the key camping and hiking season ramps up.
