Blacks Leisure may sell its boardwear business after tough trading over the summer months led to greater losses for the outdoor retailer.

Trading was particularly tough in August and Blacks now expects losses in the first half to be about£4.5 million before exceptional items, compared with a£600,000 loss for the previous year.

Chief executive Neil Gillis said he was considering “all options” for the boardwear arm, which includes the brands O’Neill, Freespirit and Mambo. The division’s like-for-like sales plummeted 16.1 per cent in the six months to September 1. Blacks’ outdoor division recorded a like-for-like decline of 5.2 per cent.

Kaupthing analyst Matthew McEachran said that in order to meet full-year forecasts of between£2 million and£4 million, Blacks would have to deliver substantial year-on-year growth in its second half.

He added that “looks a tall order in the current climate, even with the new initiatives in place”.

In September, Blacks’ trading picked up and was in line with expectations.

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