The Forzani Group Ltd. reported same-store sales climbed 5.8% in seven weeks ended Sept. 19. Comps at its corporate stores jumped 8.9% while comps at its franchised locations dipped 0.2%.
In the two weeks ended Sept 19, comps grew 8.1%. A 12.1% gain in corporate comps offset a decline of 0.1% at franchised locations. In the five weeks ended Sept 5, comps advanced 4.8% with corporate comps up 7.4% and franchise comps sliding 0.4%.
“As we noted in our second quarter conference call, same-store sales were improving as we moved through the back to school period,” said Bob Sartor, CEO. “While the improvement in corporate same-store sales in the first 5 weeks was against negative same-store sales in the prior year, the improvement in the final two weeks came on top of a 7.1% same-store sales increase in the final two weeks of back to school a year ago. Franchise results improved in the final two weeks, to finish essentially flat against the prior year's same-store increase of 3.8% overall.”
He added, “We are also pleased that our corporate same-store sales results reflect strength in all key categories of the business, and for the first time this year, are roughly equivalent on an east-west basis, which bodes well for the upcoming winter and holiday seasons. The continued strength in corporate retail same-store sales, at gross margins slightly ahead of last year, is a clear sign of the impact our corporate store initiatives are having on the business.”
