The picture at outdoor equipment retailer Blacks Leisure is looking more black than leisurely as it issued a profit warning after further weakening of trading conditions.
Much will depend, as ever, on the crucial Christmas trading period, but sales have tapered off recently, prompting the company to "manage margins in order to drive sales", and based on recent trading the full-year results are likely to be below expectations.
An even tough trading environment is the last thing the cash-strapped company needs, as it seeks more funds to implement its turnaround plan.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Constructive dialogue has been maintained with the group's bankers, Bank of Scotland, who continue to be supportive, the company said.
The shares hit a new 52-week low on the profit warning, slumping to 1.71p at one point, before recovering to 3.25p, down 1.125p on the day.
--
jh
-
-
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
-
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
