Canada's largest sporting goods retailer The Forzani Group Ltd (FGL) released its fourth quarter and year-end results for the 13 and 52-week periods ended January 29, 2006.
For the Fourth Quarter:
Retail system sales for the quarter ended January 29, 2006, were $438.0 million, a $71.4 million increase from sales for the quarter ended January 30, 2005, of $366.6 million, on the strength of a 10.1 percent increase in corporate comparable store sales; a 5.3 percent increase in franchise comparable store sales; and sales stemming from the acquisition of National Gym Clothing Limited ("National Sports") on January 31, 2005, and the full year impact of the Nevada Bob's Golf banner/license acquisition at the end of fiscal 2005.
Excluding the impact of the two new banners, retail system sales for the fourth quarter were $407.1 million, an 11.0 percent increase over sales in the same period last year.
Total revenues, consisting of corporate store sales, wholesale sales, service income, equipment rentals, franchise fees and franchise royalties, were $342.2 million, an increase of 24.8 percent from the prior year. Exclusive of the impact of National Sports and Nevada Bob's Golf, revenues increased to $316.1 million or 15.2 percent over last year's fourth quarter.
Corporate store revenues, at $287.8 million, were 25.4 percent above last year's revenues of $229.5 million, a combination of the impact of the National Sports stores acquired earlier inthe year, the net addition of 9 corporate stores and the comparable store sales increases of 10.1 percent referred to above.
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