In an apparent turnaround, Go Sport has reported a 7.6 percent increase in its sales on a comparable store basis and in constant currencies for the first three months of 2012, with gains of 6.7 percent for its Go Sport stores in France, 9.7 percent for its Courir chain of athletic shoe stores, and 9.3 percent for its Go Sport stores in Poland.
The good results should facilitate the implementation of a planned equity increase of €30 million that should take place during the second quarter. It will depend on the endorsement of the Paris stock exchange and the group's shareholders at its annual meeting on April 20.
In absolute terms, the French retail group's sales increased by 6.2 percent to €167.6 million in the first quarter. Go Sport France progressed by 5.8 percent to €112.8 million, Courir by 7.2 percent to €40.0 million, and Go Sport Poland by 5.5 percent to €12.9 million.
While the French market has improved in the last few months, Go Sport's management listed the gradual renovation of its Go Sport and Courir stores as one of the reasons for its strong performance during the period, indicating that their new concepts are right for the market. Furthermore, sales of seasonal products increased during the January sales in France. In Poland, the growth was driven by a strong recovery of the winter sports market and by non-seasonal categories such as running, football and cycling.
The group had a total of 347 stores at the end of March, including 32 Go Sport franchises and 13 Courir franchises. A franchised Go Sport store was opened in Abu Dhabi. Two Go Sport stores and one Courir shop were closed during the quarter.
