Blacks Leisure in profit warning

Blacks Leisure has warned that its profits will be below market expectations after reporting weak Christmas trading. Group like-for-like sales fell 3.9% in the 13 weeks to 8 January. The sporting company saw a 19.2% sales fall in skatewear.

Blacks is trying to reduce the amount of boardwear it sells and is planning to convert 10 of its FreeSpirit stores into outdoor goods stores.

Blacks, whose head office is in Northampton, currently operates 110 Blacks Outdoor stores, 258 Millets stores, 41 FreeSpirit shops and 12 O'Neill shops. It also trades under the Mambo and Animal brands. The company said in October it was considering selling the boardwear business, which sells equipment for snowboarding and surfboarding.