Home / Knowledge / News / Apparel/Garments / Sporting goods retailer FGL reports Q1 fiscal 2008 results

Sporting goods retailer FGL reports Q1 fiscal 2008 results

11
Jun '07
The Forzani Group Ltd Canada's largest retailer of sporting goods reported fiscal 2008 first quarter results for the 13 weeks ended April 29, 2007.

Net earnings for the first quarter were $0.7 million, or $0.02 per share, compared to the prior year's first quarter of $0.3 million, or $0.01 per share.

Net earnings included the effect of a one-time loss of $0.9 million on the sale of an investment in a trademark licensing company. Excluding this item, earnings were $1.3 million or $0.04 per share.

Retail system sales for the quarter were $308.4 million, an increase of $9.3 million, or 3.1% from the comparable 13-week sales of $299.1 million.

Same store sales in corporate locations were up 0.4% in the quarter and, in franchise, up 9.6% over the fiscal 2007 first quarter. These results were up against strong same store increases of 12.2% and 6.0% respectively in the prior year.

Revenue, consisting of corporate store sales, wholesale sales, service income, equipment rentals, franchise fees and franchise royalties, was $294.6 million, up $14.2 million, or 5.1% over the comparable period last year.

Combined gross margin for the 13 weeks ended April 29, 2007 was 33.3% of revenue, or $98.0 million, compared to 32.1%, or $90.1 million in the previous year. The margin rate and dollar improvements were driven by a combination of continued, solid franchise results, and improved corporate store results.

Corporate store category sales results were mixed with solid performance in winter categories, particularly hockey and team sports, outerwear, casual clothing and footwear.


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Feb 2020

CLMV nations urged to export goods items to Japan

Cambodia, Laos, Myanmar and Vietnam (CLMV) were recently encouraged...

Pic: Shutterstock

Apparel/Garments | On 19th Feb 2020

Turkey's apparel sector sets $19 bn export target in 2020

Turkey's apparel sector, which sold goods worth $17.7 billion to...

Pic: Waleeds / Shutterstock.com

Textiles | On 19th Feb 2020

Pakistan textile exports up 3.68% in July-Jan FY20

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search