While reporting continued discussions on the possible sale of part or all of the British retail company to potential investors, Blacks Leisure put out encouraging figures showing that a strong performance enjoyed during the winter period offset a decline experienced over the past summer. The company expressed confidence that full-year results will meet the management's expectations.
Despite an overall challenging retail environment, Blacks'outdoor division registered a 12.9 percent increase in revenues in December. Comparable store sales rose by 10.2 percent during the month, slightly lower than the 14.9 percent growth booked a year earlier.
The performance posted in December enabled the outdoor business to increase comparable store sales by 1.2 percent in the period running from Aug. 28 to Dec. 30, while comparable store sales for the whole group declined by 0.1 percent. The company said that its profit margin improved compared with the same period a year earlier and that it is starting the New Year with a positive financial position.
Total group revenues dropped to £85.4 million (€99.4m-$132.7m) between Aug. 28 and Dec. 30 from £95.8 million a year earlier, largely due to the closure of stores. Blacks registered continued strong sales in the 12 new or refurbished stores that represent 10 percent of its revenues. In February, a new Blacks store will be opened and a Millets store will be converted into a shop using Blacks' new format.
