Revenues at Groupe Go Sport, the third largest retailer of sporting goods in France, increase 4.0 percent to €189.2 million ($237 mm) in the third quarter. Same-store sales rose 4.9 percent in currency-neutral terms, according to Rallye, the French retailing giant that owns a 73 percent stake in Groupe Go Sport.
In France, third quarter sales for the Go Sport banner were up 3.6 percent on a same-store basis, benefiting from a strong performance of both seasonal and non-seasonal goods. Another highlight was the launch of the Go Sport franchise in France, with two integrated stores converted into franchisees.
Sales at Courir, a chain of specialty running stores once again recorded solid growth at 8.3 percent on a same-store basis, following a 5.0 percent increase in the first half of the year and growth of more than 8 percent in 2011. In Poland, same-store sales with constant exchange rates rose strongly at 8.5 percent in the third quarter of 2012. Similarly to France, the banner posted strong performance for the back-to-school period and sales of shoes recorded double-digit growth.
Rallye, which guaranteed a $30 million capital raise for Groupe Go Sport in the second quarter, said it remains confident in both the company’s banners. Rallye Group operates the Casino convenience store chain and reported sales of $35 billion last year.
“The effective start on July 20, 2012 of Loïc Le Borgne as general manager for Groupe Go Sport initiates a new phase in group’s recovery, particularly by adopting a more customer-centered strategy and by reinforcing the partnership with brands.”
As of the second quarter, Groupe Go Sport operated 347 stores in France Poland, Belgium, Saudi Arabia, Dubai, Guadeloupe, Martinique, Jordan, Luxembourg, Romania, Qatar, Kuwait, Mauritius and Syria) , including 175 GO Sport stores (of which 32 franchisees) and 172 Courir stores (of which 13 franchisees) at the end of March 2012.
