Golfsmith International Holdings, Inc. said revenues increased approximately 12 percent in the second quarter ended June 30, to $146.0 million as compared to net revenues of $130.2 million for the second quarter of fiscal 2011. Net revenues reflect a 4.7 percent increase in comparable store sales and a 4.8 percent decrease in net revenues from the direct-to-consumer channel.
The sales decline in the direct-to-consumer business reflects a 27.1 percent decrease in our catalog business associated with the declines in the clubmaker catalog channel, partially offset by an 8.3 percent increase in the web channel. The company has opened 10 new stores and has not closed any stores since the second quarter of last year.
Net revenues for the twenty-six-week period ended June 30, 2012, increased approximately 12 percent to $237.0 million as compared to net revenues of $211.7 million for the second quarter of fiscal 2011. Net revenues reflect a 6.2 percent increase in comparable store sales and a 5.7 percent decrease in net revenues from the direct-to-consumer channel. The sales decline in the direct-to-consumer business reflects a 27.5 percent decrease in our catalog business associated with the declines in the clubmaker catalog channel, partially offset by an 8.0 percent increase in the web channel.
Golfsmith International has more than 80 stores across the United States.
