Blacks warns of half-year losses

Blacks says it is making cost savings

Blacks Leisure says it expects a loss before tax for the first half of the year of £4.5m before exceptional items.

The Northampton-based outdoor clothing and equipment firm said recent trading, especially in August, "was difficult".

In January Blacks cut its profit target as boardwear sales fell. The new figure compares with a £0.6m loss before tax and exceptional items a year before.

But the group said it continued to make good progress in driving further cost savings in the business.

The firm also said that the integration of its Sandcity operation, which is based in Washington, Tyne & Wear, had been completed.

Blacks said its outdoor business, which includes 260 Millets stores and 110 Blacks Outdoor stores, performed broadly in line with expectations in the first half, recording a 5.2% fall in like-for-like sales.

It said its boardwear business, made up of 57 Freespirit, Mambo, Animal and O'Neill stores, endured a "very difficult" market with like-for-like sales slumping 16.1%.

The firm also said group like-for-like sales were down 7.7% in the first half.