Press Release:
CALGARY, ALBERTA–(Marketwire – Sept. 21, 2010) – The Forzani Group Ltd. (TSX:FGL – News; the “Company”), Canada’s largest retailer of sporting goods, today announced same-store sales results for the “Back to School” period.
Consolidated same-store store sales increased 5.8% for the period, compared to the same period last year.
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Corporate Franchise Consolidated
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5 Weeks Ending Sept 5, 2010 7.4% (0.4%) 4.8%
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2 Weeks Ending Sept 19, 2010 12.1% (0.1%) 8.1%
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7 Weeks Ending Sept 19, 2010 8.9% (0.2%) 5.8%
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“As we noted in our second quarter conference call, same-store sales were improving as we moved through the back to school period,” commented Bob Sartor, Chief Executive Officer of the Company. “While the improvement in corporate same-store sales in the first 5 weeks was against negative same-store sales in the prior year, the improvement in the final two weeks came on top of a 7.1% same-store sales increase in the final two weeks of back to school a year ago. Franchise results improved in the final two weeks, to finish essentially flat against the prior year’s same-store increase of 3.8% overall.”
“We are also pleased that our corporate same-store sales results reflect strength in all key categories of the business, and for the first time this year, are roughly equivalent on an east-west basis, which bodes well for the upcoming winter and holiday seasons. The continued strength in corporate retail same-store sales, at gross margins slightly ahead of last year, is a clear sign of the impact our corporate store initiatives are having on the business.”
The Forzani Group Ltd. is Canada’s largest national retailer of sporting goods, offering a comprehensive assortment of brand-name and private-brand products, operating stores from coast to coast, under the following corporate and franchise banners: Sport Chek, Sport Mart, National Sports, Athletes World, Sports Experts, Intersport, Econosports, Atmosphere, Tech Shop, Pegasus, Nevada Bob’s Golf, Hockey Experts, S3 and The Fitness Source. The Company also has websites for several of its corporate and franchise banners which can be accessed through its main website at www.forzanigroup.com.
