A MILD winter and an oversupply of outdoor goods flooding the market after the failure of rival Blacks Leisure last year have hit profits at retailer Tiso Group, the company said in its latest accounts.
The Edinburgh-based outdoor clothing and equipment shop chain said it was “disappointed” to report a pre-tax loss of £1.1 million in the year to the 28 January 2012, compared to a £789,519 profit the previous year. Turnover fell slightly from £26.8m to £25.4m.
The company, which this year celebrates 50 years in business, said it expects subdued demand to continue but that it would return it to “cash generative trading” this year. But the group was able to increase its debt by £500,000 to £6.5m in order to fund the opening of a store in Aberdeen and acquire Blues the Ski Shop during the year.