RCG Corporation, parent company of The Athlete's Foot in Australia and New Zealand, saw its profits grow 30.6% in the year ending June 27, 2010, to Australian $6.9 million (U.S. $6.1 million). The Athlete's Foot chain recorded total sales growth of 11.6% to to AUS $186.1 million ($164.4 million) for the year, with 8.3% like-for-like sales growth.
RCG Corp., acquired a 249-year royalty-free license for The Athlete's Foot concept in Australia and New Zealand in Aug. 2009, The Athlete's Foot network now numbers 143 stores across Australia and New Zealand.
The Athlete's Foot chain in the region marked its sixth consecutive year during which the footwear retailer has achieved like-for-like growth of more than 8% and total sales growth in excess of 10%. Strong sales have continued into the new financial year with positive like-for-like growth being reported across all states and territories.
Chairman of RCG Corporation, Mr Ivan Hammerschlag, sees The Athlete's Foot shifting more of its focus towards large format stores which are seeing positive results for the company.
“We are delighted with the performance of The Athlete's Foot. The business continues to deliver consistently outstanding results, in contrast to the significant volatility being experienced by the wider retail sector. It is worth noting that like-for-likes in both halves of the financial year exceeded 8 percent, higher than many other retailers.
“We also continue to be very pleased with the performance of our new larger format stores. This format has now become the standard presentation for all new stores and we are working hard to convert existing stores to the new format as quickly possible”, he added.
The RCG Corporation also includes the Shoe Superstore and the RCG Brands wholesale and distribution subsidiary which distributes the Merrell brand of performance footwear and apparel.
