Greg Norman Collection announced that its net sales increased 20% in its first quarter ended March 31, 2005. This represents the ninth consecutive quarter of double-digit sales growth for the company. The company also reported improved operating profits for the quarter.
The sales growth occurred in each of the company's operating divisions — golf, retail, international and corporate. The company's gross margin also improved due to an increase in full price business through additional green grass doors.
Product initiatives contributing to the growth include the success of the Ultimate Greg Norman Polo, PlayDry Weatherknits and the women's collection, which grew 115% over last year.
“Our innovative performance products continue to be well received by consumers,” said Suzy Biszantz, chief executive officer and president. “It's a great way to start the year.”
