Retailer affected by tough comparatives
Blacks Leisure, retailer of outdoor clothing and equipment reported positive trading this morning, but the climb in like-for-like sales was not as high as last year.

Like-for-like sales in the 8 weeks to January 14 were 1.5 per cent up compared with a 6.2 per cent climb for the same period last year.

Blacks Leisure chief executive Russell Hardy said: 'The Christmas trading period has been satisfactory and we are confident of our ability to meet current expectations for the full year. However, the consumer environment is fragile and we therefore remain cautious about underlying demand.'

The group said it expects pre-tax profits to meet market expectations of about£21 million.

Like-for-like sales have been down 12 per cent in September and October, affected by warm weather and very tough comparatives, said Numis analyst Steve Davies. This improved to a rise of 1.5 per cent in November/December, giving a cumulative figure for the second half of -2.6 per cent.

He added that, overall, Blacks offers a good long-term story, 'driven by the development and roll-out of its new out-of-town format and a significant opportunity to increase the level of own-brand products in its stores and thereby boost gross margins'.

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