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

The Forzani Group Ltd./Le Groupe Forzani Ltee

January 09, 2008 20:27 ET

FGL Reports Solid Holiday Season Sales and Margins

CALGARY, ALBERTA--(Marketwire - Jan. 9, 2008) - 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 6, 2008.

Total retail sales were up 21.3% from the prior year. Excluding the impact of the acquisition of Athlete's World, total retail system sales were up 14.3%. On a same store basis, total retail system sales were up 11.1%, as consumers responded positively to the more aggressive promotions in place throughout the quarter. Corporate same store sales increased 7.4% while the franchise division retail same store sales were up 18.5%.

Corporate store margin rates softened versus the prior year, as was reported earlier in the Company's Q3 press release, but same store margin dollars continued to track ahead of the prior year. The Company's inventory position is very clean as a result of the strong overall sales generated quarter-to-date.

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 the following corporate and franchise banners: Sport Chek, Coast Mountain Sports, Sport Mart, National Sports, Athletes World, Sports Experts, Intersport, Econosports, Atmosphere, Tech Shop, Pegasus, Nevada Bob's Golf, Hockey Experts and The Fitness Source. 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 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 Canadian 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
    or
    The Forzani Group Ltd.
    Richard Burnet, C.A.
    Chief Financial Officer
    (403) 717-1442
    Website: www.forzanigroup.com