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France's Go Sport to raise €30mn capital
28 Feb '12
1 min read
Groupe GO Sport, a leading French company that distributes and retails sportswear in France and Poland under brand names GO Sport and Racing, has proposed to increase its capital by €30 million (US$ 39.9 million).
At their meeting to analyze the company's last year performance, the Board of Directors of Groupe GO Sport agreed in principle to increase the capital, in view of decline in earnings before interest, taxes, depreciation, and amortization (EBITDA) due to less than normal sales of seasonal items because of adverse weather conditions.
The proposed capital funding of €30 million is aimed at accelerating the Group's recovery and to strengthen its established position as third largest retailer of sportswear in France, behind Decathlon and Intersport.
The funding will also enable the company to improve customer relationships, differentiation of supply and merchandising, and accelerate commercial relaunch of two brands of Groupe Go Sport.
The company will raise the capital by offering preferential shares to existing shareholders, during second quarter of 2012.
At their meeting to analyze the company's last year performance, the Board of Directors of Groupe GO Sport agreed in principle to increase the capital, in view of decline in earnings before interest, taxes, depreciation, and amortization (EBITDA) due to less than normal sales of seasonal items because of adverse weather conditions.
The proposed capital funding of €30 million is aimed at accelerating the Group's recovery and to strengthen its established position as third largest retailer of sportswear in France, behind Decathlon and Intersport.
The funding will also enable the company to improve customer relationships, differentiation of supply and merchandising, and accelerate commercial relaunch of two brands of Groupe Go Sport.
The company will raise the capital by offering preferential shares to existing shareholders, during second quarter of 2012.
Fibre2fashion News Desk - India
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