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GNC reports 11th successive quarter of double-digit sales
26 Oct '05
2 min read
Greg Norman Collection(GNC), the golf division of Reebok International announces that consolidated net sales increased 20 percent, with a 23 percent increase in its core golf business for the third quarter ended September 30th.
This marks the eleventh consecutive quarter of double-digit sales growth for the Company. The Company also reported improved operating profits for the quarter. On a year-to-date basis, consolidated net sales have increased 17 percent, with a 20 percent increase in its core golf business.
The growth for the Company was fueled by record fill-in and at-once orders for September in its core golf business where sales were up 36 percent over last year. The increases were driven by strong regular price retail sell-throughs primarily in its technology driven PlayDry Collection, and an extension of the golf season due to unseasonably warm late summer/early fall weather in many regions of the country. The Company also opened approximately 235 new premium accounts in the Golf, Corporate and Specialty store channels.
"Strong sales at retail appear to be providing solid momentum for Spring 2006. Pre-booked orders are up in their core golf channel over last year with PlayDry Performance collection driving the increases," said Dave Hall, Vice President of Operations and Chief Financial Officer.
Greg Norman Collection (GNC), a division of Reebok International Ltd, is a leading worldwide marketer and distributor of men's sportswear, golf apparel and accessories.
Established in 1992, Greg Norman Collection is inspired by one of the world's leading golf professionals, the man they call "The Shark". Reflecting his adventurous spirit and confident, independent style, the collection captures Greg Norman's powerful elegance, enthusiasm and passion for an individual design sense. The Collection began with a golf-inspired knitwear line and has since become a complete lifestyle collection, identified with the four-color shark logo.
This marks the eleventh consecutive quarter of double-digit sales growth for the Company. The Company also reported improved operating profits for the quarter. On a year-to-date basis, consolidated net sales have increased 17 percent, with a 20 percent increase in its core golf business.
The growth for the Company was fueled by record fill-in and at-once orders for September in its core golf business where sales were up 36 percent over last year. The increases were driven by strong regular price retail sell-throughs primarily in its technology driven PlayDry Collection, and an extension of the golf season due to unseasonably warm late summer/early fall weather in many regions of the country. The Company also opened approximately 235 new premium accounts in the Golf, Corporate and Specialty store channels.
"Strong sales at retail appear to be providing solid momentum for Spring 2006. Pre-booked orders are up in their core golf channel over last year with PlayDry Performance collection driving the increases," said Dave Hall, Vice President of Operations and Chief Financial Officer.
Greg Norman Collection (GNC), a division of Reebok International Ltd, is a leading worldwide marketer and distributor of men's sportswear, golf apparel and accessories.
Established in 1992, Greg Norman Collection is inspired by one of the world's leading golf professionals, the man they call "The Shark". Reflecting his adventurous spirit and confident, independent style, the collection captures Greg Norman's powerful elegance, enthusiasm and passion for an individual design sense. The Collection began with a golf-inspired knitwear line and has since become a complete lifestyle collection, identified with the four-color shark logo.
Greg Norman Collection
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