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Higher apparel sales improves Golf Galaxy's Q3 gross margin

20 Dec '06

3 min read

"We are very proud of our employees' relentless focus on outstanding execution which resulted in another quarter of solid growth," said Randy Zanatta, Golf Galaxy's president and chief executive officer. "This past quarter marks the company's fifteenth consecutive quarter of comparable store sales increases. In addition, we expanded our overall gross margin by 140 basis points reflecting the continuing strength of our operating model.”

“We achieved this gross margin improvement through continued focus on strategic initiatives to increase sales of higher margin product categories including services, apparel and pre-owned clubs. During the quarter, we increased our services revenue to 4.8 percent of our overall sales, as compared with 3.3 percent of our sales in the same quarter last year.”

Golf Galaxy opened four new stores during its fiscal 2007 third quarter. The new stores, which complete the company's current fiscal year expansion of 15 new stores, broaden Golf Galaxy's presence in Colorado, North Carolina, and Texas.

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