NEW YORK -- Escalating net and same-store sales teamed up to help Galyan's Trading Corp. narrow its loss in the first quarter of fiscal 2002.For the three months ended May 4, the Plainfield, Ind.-based sporting goods retailer reported a net loss of $414,000, or 2 cents a diluted share. That compares with last year's net loss of $4.4 million, or 42 cents. The year-ago loss included a one-time aftertax charge of $1.6 million from the early retirement of debt, but even discounting that item, Galyan's recorded a significant improvement, beating Wall Street forecasts by 2 cents.Sales for the quarter improved 29.1 percent to $113.5 million from $87.9 million a year ago. Comparable-store sales gained 5.1 percent over last year.Galyan's opened two new stores in the quarter, with plans for an additional seven new stores by yearend, for a total of 35 as compared with 26 last year.

To continue reading this article...

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus