First half sales increases at Blacks
UK-based outdoor company Blacks Leisure Group has reported improved financial results for the six months ended August 31.
The Group's total sales in the first half increased by 0.9% to £141.3 million compared with £140 million. Like-for-like retail sales fell by 0.5%.
Gross margin increased slightly to 55.9% compared with 55.6% in 2005.
Millets had a poor first half, with like-for-like sales down 5.6% compared with the prior year. Millets delivered satisfactory like-for-like growth in clothing sales; however the camping offer has underperformed materially during the key trading months. Prices also fell year-on-year.
The Boardwear division performed satisfactorily in the first half. Helped by the dry, warmer weather, Freespirit and O’Neill both made progress with combined like-for-like sales growth of 2.6%. In terms of product development, the launch of the Freespirit own-brand range has performed well, particularly its women’s wear division.
There have also been reports that billionaire Mike Ashley, who owns a 29.38% stake in Blacks Leisure Group PLC is planning a merger between his Sports World chain and Blacks.
