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%.
| Corporate | Franchise | Consolidated | ||||
| 5 Weeks Ending Sept 5, 2010 | 7.4 | % | (0.4 | %) | 4.8 | % |
| 2 Weeks Ending Sept 19, 2010 | 12.1 | % | (0.1 | %) | 8.1 | % |
| 7 Weeks Ending Sept 19, 2010 | 8.9 | % | (0.2 | %) | 5.8 | % |
“As we noted in our second quarter conference call,
same-store sales were improving as we moved through the back to school
period,” commented 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.”
“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.”
Forzani Group operates under the following corporate and franchise banners: Sport Chek, Sport Mart, National Sports, Athletes World, Sports Experts, Intersport, Econosports, Atmosphere, Tech Shop, Pegasus, Nevada Bob's Golf, Hockey Experts, S3 and The Fitness Source.
