Despite improved sales results for the fourth quarter and the year, The Forzani Group Ltd. reported that net earnings for the year ended February 1 are now estimated to be in the range of C$0.85 and C$0.87 per share versus previous guidance of C$1.01 to C$1.05 per share. Fourth quarter earnings, which are now forecast between C$0.46 and C$0.48 per share versus C$0.43 per share in the prior year, were not improved enough to deliver the expected gain for the year.

Total retail system sales were flat for the quarter at C$362.6 million, but up 5.1% for the year to C$1.11 billion versus C$1.05 billion last year. Franchise stores again delivered the goods, growing 4.6% for the quarter and 10.7% for the year. The company’s corporate stores were down 2.2% in fourth quarter, but managed to post a 2.5% total sales gain for the year.


>>> See the retail chart on Page 11 for full breakdown of the sales figures for Forzani…