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

The Forzani Group Ltd./Le Groupe Forzani Ltee

January 11, 2006 07:00 ET

FGL Posts Solid Holiday Season Sales and Margins

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2006) - 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 8, 2006.

Total retail system sales were up 21.1% over the prior year. Exclusive of the impact of the current year addition of Nevada Bob's and National Sports, retail system sales were up 12.4%. On a comparable store basis, retail system sales were up 9.6%. Comparable corporate stores sales increased 11.1%, with all banners up sharply, while franchise comparable store sales increased 7.1%. The corporate store increases were a combination of an increase of 12.0% in Sport Chek/Coast Mountain Sports locations and a 7.8% increase in Sport Mart stores.

Corporate store margins continued the trend experienced in the third quarter, reflecting the positive results of the various initiatives undertaken in the corporate stores. The sales and margin results were attained while keeping inventories well in line, and stores exited the holiday sales season leaner and fresher in virtually all inventory categories.

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 and Pegasus.

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