Golfsmith announced a 12 percent increase in group revenues to $146.0 million in the second quarter ended June 30, compared with net revenues of $130.2 million for the same period of fiscal 2011. Comparable store sales went up by 4.7 percent, but the company registered a 4.8 percent decrease in net revenues from the direct-to-consumer channel. The decrease reflected a reduction of the catalog business by 27.1 percent, partially compensated by an 8.3 percent increase in the web channel. Besides its 80-plus stores and other retail operations in the U.S., Golfsmith has a sizable presence on the European market as a distributor of important golf brands.

Topics