Second profit warning from Blacks

23-08-2006

Outdoor equipment and clothing firm Blacks Leisure has announced that it is unlikely to make a profit by the time of its next half-year results, the second such warning from the firm in the last two months.

Issuing a trading statement on the past 25 weeks, Blacks says that although its overall retail sales have risen by 2.7 per cent, like-for-like sales have fallen.

Last month the retailer and wholesaler said that the World Cup and unusually hot weather had hit its camping division, and today highlighted a market affected by "unusually weak camping and related equipment sales".

Ahead of results for the six months to August 31st being published in the autumn, directors now say that results are likely to be flat compared to last year's corresponding profits of £6.9 million.

However, like-for-like sales in the last 25 weeks at its Blacks stores were up 4.1 per cent, with similar growth experienced in its Freespirit and O'Neil departments on the back of "positive" clothing sales.

But comparative sales in Millets stores have slumped by almost six per cent, the firm today said.


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