Forzani reports roller-coaster holiday sales
The Forzani Group (TSX: FGL) said its holiday season sales for the 10-week period ended Jan. 10 were slightly lower than a year earlier because of consumer caution and unseasonably warm weather in November 2009.
“Sales for the last five weeks of the latest holiday season were actually higher than a year ago,” said CEO Bob Sartor in a statement. “Unfortunately, the gain in the last five weeks was not quite enough to offset the weak start."
Total retail system sales declined by 1.8 percent from the prior year. On a same-store basis, retail system sales were down 2.7 percent.
Corporate same-store sales decreased 3.6 percent, while franchise retail same-store sales were down 1.1 percent. Corporate store gross margin rates improved 70 basis points versus the prior year. Corporate store inventory levels were as planned.
For the second half of the latest holiday season, same-store retail system sales rose 2.4 percent compared with the prior period. For the first half of the latest holiday season, same-store retail system sales were down 10.7 percent from the prior period.
The company, whose retail banners include Sport Chek, Coast Mountain Sports and The Fitness Source, will release fourth-quarter and full-year results on April 6.
Nautilus tops NYSE’s ‘biggest percentage gainers’ list
Nautilus (NYSE: NLS) topped the list of “biggest percentage price gainers” among common stocks on the New York Stock Exchange in late trading on Jan. 15. It closed at $2.54, up $0.45, or 21.53 percent, on a volume of more than 435,000.
--Compiled by Wendy Geister
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