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Golf Galaxy reports net loss for Q1 2006
18 Apr '06
3 min read
On Dec. 20, 2005, the company said it expected to report net sales for the fiscal fourth quarter of $40 million to $42 million and a comparable store sales increase in the mid single digits.
The company reported a net loss for the fourth quarter of $265,000, or 2 cents per diluted share, compared with its guidance for a net loss of $900,000 to $600,000. The company typically reports a net loss in its fiscal fourth quarter, a low volume period due to seasonality.
"Our fourth quarter sales were on target in December and January but below our expectations in February due to challenging weather in many of our markets," said Zanatta.
Golf Galaxy opened one new store during its fiscal fourth quarter. For the full fiscal year, it opened 16 new stores. It plans to open 14 to 16 new stores during fiscal 2007; the company has opened six stores since the beginning of the new fiscal year and currently operates 56 stores.
Golf Galaxy Inc, based in Eden Prairie, Minn., owns and operates golf specialty retail stores. It currently operates 56 stores in 23 states and an ecommerce website.
The company reported a net loss for the fourth quarter of $265,000, or 2 cents per diluted share, compared with its guidance for a net loss of $900,000 to $600,000. The company typically reports a net loss in its fiscal fourth quarter, a low volume period due to seasonality.
"Our fourth quarter sales were on target in December and January but below our expectations in February due to challenging weather in many of our markets," said Zanatta.
Golf Galaxy opened one new store during its fiscal fourth quarter. For the full fiscal year, it opened 16 new stores. It plans to open 14 to 16 new stores during fiscal 2007; the company has opened six stores since the beginning of the new fiscal year and currently operates 56 stores.
Golf Galaxy Inc, based in Eden Prairie, Minn., owns and operates golf specialty retail stores. It currently operates 56 stores in 23 states and an ecommerce website.
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