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Eyebrows were raised when JD Sports spent £20m buying Blacks Leisure out of administration three months ago. The anorak and camping gear group lost £2.2m in only three weeks of ownership – a lack of stock, high costs and large, over-rented store portfolio are blamed – and it's expected to lose at least another £10m this year. Still, we think management has what it takes to get Blacks back on track and see growth beyond short-term headwinds – leaving the shares worth buying.