May 11, 2012
Author: MIke P.
FGL formerly The Forzani Group released their Q1 numbers and things are looking good. FGL owns Sports Experts, Sport Mart, Athletes World, Sport Check, S3 and many others. Their sales reached 341.8 Million in the first quarter. That is up 5.6% from same time last year. Sales of bicycles and other sporting equipment are strong. Canadian Tire acquired FGL in August of 2011. FGL’s same store sales grew 7% from same time last year. This growth helped Canadian Tire show a growth of 26.5%.
"We had a very good first quarter driven by strong retail sales growth from all banners, including our most recent addition, FGL Sports, and strong performance by Financial Services," said Stephen Wetmore, President and CEO, Canadian Tire Corporation. He said FGL Sports was well positioned for the early onset of spring and saw sales growth in hard goods, apparel and footwear. FGL Sports operated 506 stores at the end of the quarter.