Shares digital

Blacks Leisure (BSLA) 141p

Outdoor-wear store Blacks Leisure said an internal review has found the performance of its Sandcity unit has been overstated. (Read the full story: www.sharesmagazine.com/node/3655)

Shares says: This must raise questions about the accounting and auditing, and the finance director. Unless you think Mike Ashley (29.4% holder) can spot a winner. SELL

The Independent says: News of irregularities is just the latest blow for Blacks, which has had a turbulent time over the past year. Its former chief executive Russell Hardy stood down last June after profits fell from £21 million to £100,000.

The Guardian says: Two years ago, the shares were changing hands at 598p. Since then, the company has issued a series of profits warnings, blaming falling sales on factors such as global warming, torrential rain and the lack of a Glastonbury festival.

The City says: While this is a discrete occurrence, unrelated to the recovery strategy, the timing is not ideal and it does nothing to engender support in the stock or management.