DCSIMG

JD Soprts says Blacks still in the red

Blacks acquisition hurt profits, according to JD Sports. Picture: TSPL

Blacks acquisition hurt profits, according to JD Sports. Picture: TSPL

  • by GARETH MACKIE
 

Retailer JD Sports Fashion said its acquisition of ailing outdoor chain Blacks pushed last year’s profits to the lower end of City forecasts.

The firm bought Blacks out of administration a year ago but revival plans have been frustrated by poor Christmas trading and “significant” annual losses, which JD Sports blamed on merchandise brought in by a previous management team.

Blacks’ poor performance offset another record period for the core JD Sports business, with like-for-like sales for the seven weeks to 5 January up by 3.2 per cent.

Executive chairman Peter Cowgill said: “Whilst the performance of outdoor has been disappointing, we remain confident that this business will produce returns.”

 

Comments

 
 

Back to the top of the page

 

EDINBURGH
FESTIVALS
2014

#WOWFEST

In partnership with

Complete coverage of the festivals. Guides. Reviews. Listings. Offers

Let's Go!

No Thanks