Sports Authority reports net sales up $8.0mn for quarter ended April 30, 05
25 May '05
3 min read
mr. morton concluded, "they are encouraged by our start in fiscal 2005 and our confidence to effectively execute our strategic plan is reflected in our increased guidance for the fiscal year. our momentum remains positive as they continue to benefit from the initiatives they put in place over the past several months."
guidance for fiscal year 2005
for the second quarter of fiscal 2005, the company is forecasting a comparable store sales increase of approximately 1% to 2%, total sales of $620 to $625 million and diluted eps of $0.47 to $0.49, based on 26.5 million diluted shares outstanding in the quarter. the company expects to open one new store and close two stores during the quarter.
for fiscal year 2005, the company is forecasting comparable store sales to increase approximately 2% and diluted eps between $1.90 to $1.97, based on an estimated 26.5 million diluted shares outstanding. this earnings estimate includes a $0.03 to $0.05 reduction in diluted earnings per share from the impact of the previously announced change in lease accounting. the company expects to open approximately 14 new stores, relocate 4 stores and close 6 stores during the year.
the sports authority, headquartered in englewood, co, is one of the nation's largest full-line sporting goods retailers offering a comprehensive high-quality assortment of brand name sporting apparel and equipment at competitive prices. as of april 30, 2005, the sports authority operatecom
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