In its full-year 2023/24, ended Jan. 31, Forum Sport generated €121.4 million in sales, 1 percent more than the €120.2 million of FY 2022/23, according to CMDsport.
Things were on the upswing until November, which was flat year-on-year and marked a reversal of fortunes for the next two months. CEO Diego Llorente ascribes the reversal to the warm winter, although the Spanish retailer also closed one of its Forum Sport stores over the course of the year, the one in Portugalete. It now operates 49, with another 17 under the Dooers banner. The Forum Sport banner accounts for 90 percent of sales.
At the same time, physical stores, irrespective of banner, accounted for 77.6 percent of sales, about one point less than the previous year. The balance as made up in e-commerce, both banners combined.
Overall it has been an erratic several years for the retailer. Since 2017/18 annual revenues (exclusive of VAT) have fluctuated as follows: €119.5 million, €128.8 million, €124.6 million, €107.5 million (the lockdown year), €124.0 million, €120.2 million and (now) €121.4 million.
And the most recent year’s small gain in sales had no reflection in profits. Here Llorente points to rising costs, due especially to digital-traffic acquisition (+30%–40%), payroll and inflation. Forum Sport, he says, needs to see greater growth in this year and has therefore been striving to improve its logistics, assortment and pricing. It is also looking to hire personnel.
In the last quarter of this year, moreover, it will be opening a new, big Forum Sport store of undisclosed location and novel format. It will also be refurbishing four other big stores, also of undisclosed location. The new format – soon to be tested at two stores, one in May, the other in September – is urban, applicable to 800 square meters at most and will have an assortment designed for profitability.
