Forzani Group Back-to-School Comps Essentially Flat

The Forzani Group Ltd. reported that consolidated same-store store sales for the back-to-school period inched up 0.1% for the seven-week period ended Sept. 20 compared to the comparable period last year. Broken out, consolidated same-store sales for the five weeks ended Sept. 6 slipped 1.1% while the trailing two weeks saw a comp uptick of 3.6%. Overall, corporate comps for the back-to-school period slipped 1.6% while franchise stores comped up 3.8% for the period.


“These results suggest an improvement from the corporate results reported in our second quarter press release and were, for the most part, expected due to the later return to school in certain corporate markets,” commented Bob Sartor, company CEO. “Our franchise comparable store sales softened in the last two weeks, again as expected, due to the earlier return to school in the Quebec market which accounts for the majority of the franchise division sales.”

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Forzani Group Back-to-School Comps Essentially Flat

The Forzani Group Ltd. reported that consolidated same-store store sales fo the back-to-school period increased 0.1% for the seven-seek period ended September 20, compared to the same period last year.

Results for the seven week period ended September 20, 2009 are as follows:
—————————————————————————-
Corporate Franchise Consolidated Same-
Store Sales
—————————————————————————-
For the five weeks ended
September 6, 2009 as reported
in the second quarter press
release dated September 8, 2009 (4.5%) 6.2% (1.1%)
—————————————————————————-
For the two weeks ended
September 20, 2009 7.0% (3.2%) 3.6%
—————————————————————————-
For the seven week “Back to
School” period ended
September 20, 2009 (1.6%) 3.8% 0.1%
—————————————————————————-

“These results suggest an improvement from the corporate results reported in our second quarter press release and were, for the most part, expected due to the later return to school in certain corporate markets,” commented Bob Sartor, Chief Executive Officer of the Company. “Our franchise comparable store sales softened in the last two weeks, again as expected, due to the earlier return to school in the Quebec market which accounts for the majority of the franchise division sales.”

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