Poor boardwear sales bring Blacks down
UK-based outdoor gear company Blacks Leisure is to make structural changes after reporting further losses for the year ended March 1.
Overall losses for the year totalled £9.3 million compared with losses of £13.8 million reported in the previous year. Although the group registered an almost 300 per cent increase in operating profits, low boardwear sales negatively impacted overall results.
The company has already attempted to increase profitability but has decided to take further action in order to reduce losses. It has recruited experienced managers from backgrounds such as M&S and Gap as well as reducing head office costs. It plans to give existing stores an overhaul and to cut the number of product lines for the winter season. Blacks stores are to become more fashion oriented, while Millets is to focus exclusively on outdoor goods.
