Groupe Go Sport, which is in line to exit the French Bourse, continued to gain some ground in the third quarter ended Sept. 30. Its sales increased by 5.1 percent to €171.5 million during the period, despite a 1.4 percent drop in Poland, down to €13.8 million. The Go Sport chain continued to make progress in France, rising by 0.2 percent to €112.5 million, and the Courir chain continued to outperform the group with a 19.7 percent jump to €43.0 million.
On a same-store basis, sales increased by 6.4 percent for the whole group but declined by 5.2 percent in Poland. They increased by 2.0 percent at Go Sport France and by 22.2 percent at Courir, lifted by strong back-to-school sales of running, skate, basketball and casual footwear.
For the first nine months of the year, total sales were up by 0.6 percent to €485.4 million, including 1.7 percent growth on a comparable store basis. Further growth is expected following the recent signing of an agreement in principle to take over purchasing on behalf of the members of the Twinner retail cooperative in France.
Go Sport also launched its online marketplace on Oct. 15, inviting individual brands and other specialty retailers to offer their products on the portal, provided they are not in competition with those in its own catalog. About 30 brands have started trading on the portal including Sooruz, a supplier of wetsuits, and Raidlight, a French trail running specialist.
Go Sport indicates that its financial situation has not changed from the first half, when it reported a big increase in losses. Meanwhile, the company reported that the French stock exchange authorities have approved an offer by its parent company, Rallye, to acquire the 6.3 percent interest it doesn't own in Go Sport at a price of €9.10 a share. The timing of the squeeze-out process has not yet been set.
