Net loss down, sales up at Forzani
Canada-based sporting goods company Forzani increased sales and reduced net loss during its second quarter.
Revenue for the quarter was just approximately $315.7 compared with $296.5 million during the prior-year period. Net loss was $1.8 million compared with $4.4 million.
"The successful execution of our strategic initiatives and a stronger economy contributed significantly to our improved same-store sales, margin and operating costs in the second quarter of fiscal 2011," said Bob Sartor, the company’s chief executive. "Our strong market presence and favourable weather in Eastern Canada also played a role in the gains.
"We shifted our marketing spend to support the re-branding efforts of our Atmosphere stores, the launch of the Livestrong footwear, apparel and accessories programme, and our offering of FIFA 2010 World Cup-branded products."
Mr Sartor said there were still concerns about the economy going forward but that traditionally the second half is stronger for the company than the first.
