The Forzani Group Ltd., Canada's largest sporting goods chain, reported retail system sales for the 10-week period ended Jan. 9 rose 6.5% as cold weather boosted holiday sales. Total retail system sales – retail sales from both corporate and franchise stores — rose 7% for the holiday season on a same-store basis versus a 2.7% decline in the year-ago period.
Total retail system sales grew 6.5% (from the prior-year decline of 1.8%).
Corporate same-store sales increased 9.4% (prior-year decline of 3.6%), while franchise retail same-store sales were up 2.7% (prior-year decline of 1.1%).
These results came on Forzani’s December announcement that it had gotten off to its best Q4 in history as Canadians in the Western part of the country rushed to load up on winter gear in November after an unseasonably warm October resulted in low Q3 comps growth.
CEO Bob Sartor said the cold weather provided a kick-start to the Christmas season. “While sales momentum moderated somewhat in mid-December,” Sartor said, “we finished with strong sales gains, both in the final week leading up to Christmas, and through to our Boxing Week events. January sales continue to perform to plan.”
The company expects to disclose its financial results for the fourth quarter and full year ended Jan. 30, 2011 on April 5, 2011.
