Initial losses from the acquisition of Blacks Leisure led to a substantial slide in JD Sports' first-half profits, but the turnaround of the outdoor activities retailer looks on track, while performance from the group's core sports goods shops is encouraging.
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The Black stores, which accounted for 9 per cent of first-half revenue, racked up a £10m loss during the six months. Of that loss, £9m came in the first three months of the year when, fresh from administration, the business was suffering from severe stock problems and high costs. Following the closure of 97 stores leaving it with 198, breakeven is expected in the second half, and Blacks-owned brands such as Peter Storm have been performing strongly.