Store closures impact Blacks Leisure revenues
UK outdoor clothing and equipment retailer Blacks Leisure has announced a £10.4 million decrease in sales during 2010. Total group sales in the period since 28 August 2010 were £85.4 million compared to $95.8 million in the prior period.
The group has put the decline down to stores closures which were part of restructuring throughout 2010. However, the business performed strongly during December 2010 with total sales in the month for the Outdoor business increasing by 12.9%, with like-for-like sales increasing by 10.2%.
“The strong performance of the business over the winter period has helped us to offset the decline experienced by the business over the summer,” reads a statement from the retailer. “As a consequence the board is confident that results for the full year will meet internal management expectations.”
Neil Gillis, CEO said: “I am pleased to announce that the group has performed strongly during the key Christmas trading period highlighting the strength of our offering in what continues to be a challenging retail market. The turnaround programme remains on track and we enter the New Year in a positive financial position and focussed on continuing to deliver the benefits of the turnaround strategy. The store opening programme has performed well this year and we are due to continue this with a further new store in February 2011 and additional opportunities in the pipeline for our new financial year beginning in March 2011.”
