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  • Mitre June 17

JD Sports turnaround of Blacks on schedule

Blacks recorded a £10m loss in the six months to July 28, helping to cut JD's profits to £2.9m from £20.1m a year ago but JD Sports, who rescued Blacks Leisure from administration, think it has a profitable future.

JD, who bought Blacks for £20m, has already closed 93 of the worst performing shops with a further 50 shops are under threat as it looks to end up with around 150 sites

The Millets name will be ditched as JD plans to use Blacks, which sells own-brands such as Peter Storm and Eurohike, as its single outdoor operation.

The Bury based group sees a profitable future for Blacks but warned that margins in the second half will come under pressure as a result of the need to clear out old stock.

JD's 350 sports stores recorded growth of 3.2 per cent in the UK and Ireland in the first six weeks of the second half. But fashion brands, which include Bank and Scotts, saw a 6 per cent fall in underlying sales over the same period.


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