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

The Forzani Group Ltd./Le Groupe Forzani Ltee

September 22, 2009 05:00 ET

Forzani Group Announces "Back to School" Results

CALGARY, ALBERTA--(Marketwire - Sept. 22, 2009) - The Forzani Group Ltd. (TSX:FGL) (the "Company"), Canada's largest retailer of sporting goods, today announced same-store sales results for the "Back to School" period. Consolidated same-store store sales increased 0.1% for the period, compared to the same period last year.



Results for the seven week period ended September 20, 2009 are as follows:

----------------------------------------------------------------------------
Corporate Franchise Consolidated Same-
Store Sales
----------------------------------------------------------------------------
For the five weeks ended
September 6, 2009 as reported
in the second quarter press
release dated September 8, 2009 (4.5%) 6.2% (1.1%)
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For the two weeks ended
September 20, 2009 7.0% (3.2%) 3.6%
----------------------------------------------------------------------------
For the seven week "Back to
School" period ended
September 20, 2009 (1.6%) 3.8% 0.1%
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"These results suggest an improvement from the corporate results reported in our second quarter press release and were, for the most part, expected due to the later return to school in certain corporate markets," commented Bob Sartor, Chief Executive Officer of the Company. "Our franchise comparable store sales softened in the last two weeks, again as expected, due to the earlier return to school in the Quebec market which accounts for the majority of the franchise division sales."

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, S3 and The Fitness Source. The Company also has websites for several of its corporate and franchise banners which can be accessed through its main website at www.forzanigroup.com.

Forward-looking Information:

This news release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws. This forward-looking information relates to, among other things, the Company's, strategic and operating initiatives and revenue, and can generally be identified by the use of such words as "may", "will", "expect", "believe", "plan", "intend", "are confident" and other similar terminology, including statements concerning possible or assumed future results. Certain material factors or assumptions are applied in making statements regarding forward-looking information, and actual results may differ materially from those expressed or implied in such information. The forward-looking information in this news release is based upon material factors and assumptions that management believes are reasonable as of the date of this news release, including the successful execution of the initiatives described herein; however, the Company cannot assure actual results will be consistent with this forward-looking information. Information about material factors that could cause actual results to differ materially from expectations include, but are not limited to, the factors discussed in the Company's Management Discussion and Analysis and Annual Information Form filed with the securities regulatory authorities in Canada, available at www.sedar.com.

When relying on the forward-looking information to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves significant risks and uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. While the Company may elect to do so, unless required by applicable law, it undertakes no obligation to update this information to reflect new information or circumstances at any particular time.

Contact Information

  • The Forzani Group Ltd.
    Robert Sartor, CA
    Chief Executive Officer
    (403) 717-1342
    or
    The Forzani Group Ltd.
    Michael Lambert, CA
    Chief Financial Officer
    (403) 717-1666
    or
    The Forzani Group Ltd.
    Richard Burnet, CA
    Senior Vice President, Finance and Administration
    (403) 717-1442
    www.forzanigroup.com