Galyan's Q3 sales climb 23.7 percent

Galyan's Trading Co. realized net sales of $129.8 million for 3Q, representing a 23.7 percent increase.

Galyan's Trading Co. realized net sales of $129.8 million for 3Q, representing a 23.7 percent increase. Following the company's Greenwood, Ind., store being struck by a tornado on Sept. 20 and causing major structural damage to the building, the store has been closed and removed from comparable-store sales computations. That resulted in 3Q and year-to-date results being affected by an estimated $1.6 million of lost sales due to that store's closing. Galyan's projected that total company sales would have been $131.4 million for the third quarter if the store had not closed, within the range of company guidance of $130.0 million to $136.0 million. The company also announced it believes it has adequate insurance covering the loss of inventory and business interruption.

Comparable-store sales declined 2.2 percent compared to the 2.2 percent growth in the third quarter last year. Athletic footwear, athletic apparel, accessories and ski equipment led increases in comp-sales. These were offset by declines in hunting, camping and outerwear, against a post-Sept. 11 surge in those categories last year.

For the nine months ended Nov. 2, 2002, net sales increased to $385.6 million, representing a 25.3 percent gain over the comparable period last year. Comparable-store sales were down slightly, showing an increased 1.5 percent year-to-date compared with the 2.5 percent growth for the same period a year ago. The athletic apparel, athletic footwear, accessories, fitness and baseball categories led the gains in comp-sales.

The company plans to release financial results for its fiscal third quarter on Nov. 20, prior to the market opening.


GSI Commerce's Q3 net revenue up 79 percent

Formerly known as Global Sports, GSI Commerce (Nasdaq: GSIC), an outsource provider for e-commerce and the company that runs etail for the likes of Sports Chalet and Bally Total Fitness, reported that its third quarter net revenue for 2002 was $32.3 million, representing a 79 more