Groupe Go Sport reports a 1.9 percent sales decline to €171.7 million for the first quarter ended March 31, but sales grew by 0.1 percent on a comparable basis and in local currencies, with an excellent performance for the Go Sport chain in France and Poland. On the other hand, in contrast with previous seasons, its chain of athletic footwear stores, Courir, suffered sales declines of 11.6 percent on a same-store basis and 11.4 percent in absolute terms, down to €36.37 million.
The Go Sport chain had stable sales of €133.35 million, but they were up by 3.6 percent on a comparable basis and in local currencies. Its sales in France improved by 1.3 percent in absolute terms and by 3.0 percent on a same-store basis, confirming a positive trend that began in the second quarter of 2008 and indicating a possible turnaround in spite of the generally poor economic situation.
The new management says the good performance proves the validity of an action plan launched at the end of 2007, intended to raise the chain’s sales and profits in France. It is being complemented by sharp cost reductions, but no profit figures are being given at this stage.
Go Sport’s sales in Poland rose by 9.6 percent in zlotys and on a same-store basis, but translated into euros, they resulted in a decline of 12.1 percent. Including the group’s operations in Belgium, sales outside France fell by 5.9 percent in euros to €12.47 million. Revenues from franchises grew by 2.9 percent to €2.0 million.
