Greg Norman Collection's consolidated net sales increased 19.8% to $20.0 million compared to $16.7 million last year, with a 23% increase in its core golf business for the third quarter ended September 30th. This marks the eleventh consecutive quarter of double-digit sales growth for the Company. The Company also reported improved operating profits for the quarter.
On a year-to-date basis, consolidated net sales have increased 17.1% to $63.8 million, compared to $54.5 million last year, with a 20% increase in its core golf business.
The growth for the Company was fueled by record fill-in and at-once orders for September in its core golf business where sales were up 36% over last year. The increases were driven by strong regular price retail sell-throughs primarily in its technology driven PlayDry Collection, and an extension of the golf season due to unseasonably warm late summer/early fall weather in many regions of the country. The Company also opened approximately 235 new premium accounts in the Golf, Corporate and Specialty store channels.
“Our strong sales at retail appear to be providing solid momentum for Spring 2006. Pre-booked orders are up in our core golf channel over last year with our PlayDry Performance collection driving the increases,” said Dave Hall, Vice President of Operations and Chief Financial Officer.