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Blacks Leisure group retail sales down 2.7%
07 May '07
2 min read
Outdoor retailer Blacks Leisure Group plc announced preliminary results for the year ended 3 March 2007.
• Current year results impacted by combination of adverse factors
• Group retail like for like sales down 2.7%
• Operational review is generating product and operational changes to adapt to evolving trading environment
• Continued progress on developing and launching own-brand clothing labels
• Prudent action taken to control costs and working capital
• Current trading like for like up 0.8% for the 8 weeks to 28 April 2007
• Exceptional items of £13.9m provided for closing approximately 45 stores and other lease exits.
David Bernstein, Chairman, said: “As anticipated from the time of our last trading update, we have had a break-even result, before tax and exceptional items, for this difficult year. We are determined to position the business to respond better to the competitive environment, and our operational review underway since January, is producing results and necessary consequential change.
The stock clearance programme in March and the unseasonably warm spring weather have affected the start of the new financial year. The first half outlook depends on the key second quarter and the success of our new camping and summer clothing lines, which have started well.”
Results:
The Group results for the year ended 3 March 2007 reflect a difficult trading period for both our important summer and Christmas seasons and, as previously indicated, profit before tax is substantially lower than last year. A tough retail environment with the added impact of the sustained warm and dry weather has affected sales throughout the period.
Click here to read more:
• Current year results impacted by combination of adverse factors
• Group retail like for like sales down 2.7%
• Operational review is generating product and operational changes to adapt to evolving trading environment
• Continued progress on developing and launching own-brand clothing labels
• Prudent action taken to control costs and working capital
• Current trading like for like up 0.8% for the 8 weeks to 28 April 2007
• Exceptional items of £13.9m provided for closing approximately 45 stores and other lease exits.
David Bernstein, Chairman, said: “As anticipated from the time of our last trading update, we have had a break-even result, before tax and exceptional items, for this difficult year. We are determined to position the business to respond better to the competitive environment, and our operational review underway since January, is producing results and necessary consequential change.
The stock clearance programme in March and the unseasonably warm spring weather have affected the start of the new financial year. The first half outlook depends on the key second quarter and the success of our new camping and summer clothing lines, which have started well.”
Results:
The Group results for the year ended 3 March 2007 reflect a difficult trading period for both our important summer and Christmas seasons and, as previously indicated, profit before tax is substantially lower than last year. A tough retail environment with the added impact of the sustained warm and dry weather has affected sales throughout the period.
Click here to read more:
Blacks Leisure Group plc
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