The Forzani Group, Ltd. said unseasonably warm weather in November and consumer caution caused same-store retail system sales to dip 2.7% for Holiday ’09, but management for the Calgary, Alberta, CA- based retailer said the company managed margins effectively by providing more current inventory and adopting less aggressive discount methods. Speaking on the weaker holiday season, representatives for Forzani emphasized that the effects of a weak start were somewhat offset by a stronger-than-usual final five weeks.
Consolidated retail system sales for FGL declined by 1.8% during the Holiday Season and 2.4% on a same-store basis while corporate comps dipped 3.6% in the same period. Franchise same-store sales were 1.1%. For the second half of the Holiday period, same-store retail system sales increased 2.4%.
In Forzani’s most recent quarterly report, the company reported that tight inventories and a low demand for promotion drove revenues to 4.1% growth. The company expects to disclose its financial results for the fourth quarter and full year ended Jan. 31, 2010 in April.
