The Forzani Group Ltd./Le Groupe Forzani Ltee
TSX : FGL

The Forzani Group Ltd./Le Groupe Forzani Ltee

January 12, 2007 07:00 ET

FGL Holiday Season Sales and Margins

CALGARY, ALBERTA--(CCNMatthews - Jan. 12, 2007) - The Forzani Group Ltd. (TSX:FGL), Canada's largest retailer of sporting goods, today announced its Holiday Season results for the ten weeks ended January 7, 2007.

Corporate same store sales were up 0.5% as strong sales in Western Canada were offset by decreases in Eastern-based stores, which were impacted by unseasonably warm weather. In the franchise business, predominantly located in the East, same store sales were down 8.1%. Overall same store sales were down 2.5%.

In spite of the sales challenges posed by the weather, corporate store margins continued to track ahead of the prior year in terms of both rate and overall dollars. Corporate store inventories were carefully managed and balanced between the seasonal temperatures in the West and record warm temperatures in the East resulting in normal winter inventory levels exiting the season.

The Forzani Group Ltd. is Canada's largest national retailer of sporting goods, offering a comprehensive assortment of brand-name and private-brand products, operating stores from coast to coast, under four corporate banners: Sport Chek, Coast Mountain Sports, Sport Mart and National Sports. As well, the Company retails on-line at www.sportmart.ca and provides a content rich sporting goods information site at www.sportchek.ca. The Forzani Group is also a franchisor under the banners: Sports Experts, Intersport, RnR, Econosports, Atmosphere, Tech Shop, Nevada Bob's Golf, Hockey Experts, Pegasus and Fitness Source.

The foregoing information may contain forward-looking statements relating to the future performance of The Forzani Group Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. The Company, in compliance with the reporting requirements of the various securities commissions, details these risks and uncertainties from time to time.

Contact Information

  • The Forzani Group Ltd.
    Robert Sartor, C.A.
    Chief Executive Officer
    (403) 717-1342
    or
    The Forzani Group Ltd.
    Bill Gregson, C.A.
    President & Chief Operating Officer
    (403) 717-1386
    Website: www.forzanigroup.com