WEAK trading at outdoor clothing retailer Blacks has left parent group JD Sports open to a “speculative” bid from majority shareholder Pentland Group, according to two keenly followed City analysts.
Freddie George and Kate Calvert at Seymour Pierce yesterday warned last week’s Christmas update had exposed problems at Blacks, which JD Sports bought last year out of administration.
George and Calvert said: “Management is now under pressure to reduce losses at Blacks and to sell off the loss-making fashion fascias. Any faltering in these goals could prompt an opportunistic bid from majority owner Pentland.”
Pentland – which makes Canterbury rugby tops, Hunter wellies and Speedo swimwear – bought a 57 per cent stake in JD in 2005. Stephen Rubin took Pentland, which his parents founded in 1932, private in 1999.
