PLAINFIELD, Ind., Feb. –Galyan’s Trading Company, Inc. (Nasdaq:GLYN) today reported net sales and comparable store sales for the fiscal fourth quarter ended February 1, 2003.
Net sales for the fourth quarter were $212.2 million, representing a 21.4 percent increase over the same period last year. Comparable store sales for the fourth quarter declined 1.4 percent. Increased comparable store sales in athletic apparel, athletic footwear, ski equipment, rugged apparel and accessories were more than offset by softness in casual apparel, brown shoes and camping categories.
Net sales for the full year ended February 1, 2003, increased to $597.8 million, representing a 23.9 percent gain over last year. Comparable store sales for the full-year increased 0.5 percent. Winter sports, athletic apparel, athletic footwear and accessories categories led the sales gains in comparable stores.
Robert B. Mang, Chief Executive Officer and Chairman of the Company, commented, “We continued to operate in a challenging environment, which put pressure on overall retail sales. In addition, the calendar compression and extremely promotional environment put added pressure on top line sales. However, we are pleased with the continuing solid comp gains in athletic apparel and athletic footwear, which have helped mitigate the softness in other categories.”
Quarterly Release and Conference Call Information
The Company plans to release financial results for its fiscal fourth quarter and fiscal year end on Thursday, March 20, 2003, prior to the market opening. Robert B. Mang, Chief Executive Officer and Chairman of the Company, will host the Company’s quarterly conference call on that day, at 10:00 a.m. ET, to discuss its results and outlook.
Galyan’s is a specialty retailer that offers a broad range of products that appeal to consumers with active lifestyles, from the casual consumer to the serious sports enthusiast. Galyan’s operates 34 stores in 17 states and offers outdoor and athletic equipment, apparel, footwear and accessories, as well as casual apparel and footwear