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Golf Galaxy sees 40.9% sales jump in Q1
20 Jun '06
3 min read
The company informed it plans to open three to five additional stores during the current fiscal year, which ends March 3rd 2007, for a total of 14 to 16 new stores in fiscal 2007.
The company said that for the second quarter ending August 26th 2006:
-- Net sales are currently expected to be $98 million to $102 million, an increase of 40 percent to 46 percent over the second quarter of fiscal 2006;
-- Comparable store sales are currently expected to increase 3 percent to 5 percent; and
-- The company currently expects net income of $6.8 million to $7.2 million, or 59 cents to 62 cents per diluted share (pending the final purchase price allocation of The GolfWorks acquisition and assuming 11.6 million weighted average shares outstanding).
Based on current sales trends, Golf Galaxy today updated the guidance it provided May 22, 2006 for the fiscal year ending March 3rd 2007, a 53-week period:
-- Net sales are currently expected to be $292 million to $300 million, compared with its prior estimate of $300 million to $310 million;
-- Comparable store sales are currently expected to increase 3 percent to 5 percent, compared with the prior estimate of 5 percent to 7 percent; and
-- The company currently expects net income for fiscal 2007 of $6.8 million to $7.3 million, or 59 cents to 63 cents per diluted share (pending the final purchase price allocation of The GolfWorks acquisition and assuming 11.6 million weighted average shares outstanding), compared with its prior estimate of $7.5 million to $8.1 million, or 65 cents to 70 cents per diluted share.
Golf Galaxy's guidance on net income for fiscal 2007 includes estimated expenses of approx. $900,000, or 8 cents per diluted share, from the expensing of stock options.
Golf Galaxy Inc, based in Eden Prairie, Minn., owns and operates golf specialty retail stores. It currently operates 61 stores in 24 states and an ecommerce website.
The company said that for the second quarter ending August 26th 2006:
-- Net sales are currently expected to be $98 million to $102 million, an increase of 40 percent to 46 percent over the second quarter of fiscal 2006;
-- Comparable store sales are currently expected to increase 3 percent to 5 percent; and
-- The company currently expects net income of $6.8 million to $7.2 million, or 59 cents to 62 cents per diluted share (pending the final purchase price allocation of The GolfWorks acquisition and assuming 11.6 million weighted average shares outstanding).
Based on current sales trends, Golf Galaxy today updated the guidance it provided May 22, 2006 for the fiscal year ending March 3rd 2007, a 53-week period:
-- Net sales are currently expected to be $292 million to $300 million, compared with its prior estimate of $300 million to $310 million;
-- Comparable store sales are currently expected to increase 3 percent to 5 percent, compared with the prior estimate of 5 percent to 7 percent; and
-- The company currently expects net income for fiscal 2007 of $6.8 million to $7.3 million, or 59 cents to 63 cents per diluted share (pending the final purchase price allocation of The GolfWorks acquisition and assuming 11.6 million weighted average shares outstanding), compared with its prior estimate of $7.5 million to $8.1 million, or 65 cents to 70 cents per diluted share.
Golf Galaxy's guidance on net income for fiscal 2007 includes estimated expenses of approx. $900,000, or 8 cents per diluted share, from the expensing of stock options.
Golf Galaxy Inc, based in Eden Prairie, Minn., owns and operates golf specialty retail stores. It currently operates 61 stores in 24 states and an ecommerce website.
Golf Galaxy Inc
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