Blacks Leisure has announced a number of initiatives that it hopes will improve financial performance across the group, including the closure of around 45 loss-making stores, predominantly in the Millets fascia.
The company has also scaled back its Blacks Out of Town programme, which in the short-term will be limited to two new openings scheduled for the financial year to 2008. Blacks said it would recommence the growth of this format when appropriate.
Blacks is also undergoing an operational review focusing on enhancements to the company’s product, pricing and customer proposition across all its fascias. To assist in this, the board has asked Don Trangmar, a non-executive director, to relinquish this role and instead act as a consultant to the company’s Commercial and Product Development Teams on a part-time executive director basis.
Says Blacks’ chief executive Russell Hardy: “We remain confident that our market leadership in the growing outdoor market, combined with our rebalanced ranges for 2007 and the operational measures announced, will help drive a significantly improved performance for the next financial year.”
