In the second quarter of fiscal 2006, Golf Town total sales grew to CA$82.1 million ($73.1 mm), an increase of 14.7% over the CA$71.6 million ($57.6 mm) recorded for the comparable period in 2005. The growth in sales was largely attributable to the addition of new stores and a comparable store sales increase. During the quarter Golf Town’s same-store sales grew at 4.7%.
Said Stephen Bebis, President and Chief Executive Officer, “We are proud to post another very solid second quarter for Golf Town. The season is in full swing and management is pleased with our results to date.”
Gross profit as a percentage of sales increased, to 36.15%, from 35.40% for the comparable period a year ago.
Net income for the second quarter increased 2.2% to CA$10.1 million ($9.0 mm) from CA$9.8 million ($7.9 mm) during the same quarter last year.
In 2006 Golf Town has opened new stores in Quebec City, Kitchener, Calgary and Victoria.
