American Golf, with 70 golf stores Europe’s largest specialist golf product retailer, reports like-for-like company sales(excluding franchises) for the six months ended 29th July 2007 up 18.2% to £35 million.
Internet sales are up 120% on the same period last year. Two new stores have opened so far this year Hilden Park in February and Birdhill in March.
Gross margin is running 2 percentage points ahead of last year.
Andrew McDonald, CEO of American Golf commented, “We are pleased to announce these very encouraging sales figures from what has been a turn-around six months. This continues to be an exciting time for American Golf and we are looking forward to accelerating growth further by increasing the number of retail outlets and further development of our fast growing internet channel.
“The encouraging sales growth at the start of our current financial year is a result of the strategy the new management implemented to the business 12 months ago.
“We revitalised the operational structure of the company, employing quality individuals in three key functions; Susan Doogan, Apparel Buyer (ex JD Sports); Stuart Livingstone, Head of Retail (ex Kwik Fit Divisional Director) plus the establishment of a Branch Merchandising Function.
“We have also invested in our staff training and incentivisation at shop level, renewing focus on customer service and a profit orientated culture. Alongside our people, we continue to invest in the quality of the visual merchandise of each store.
“We continue to further develop our product range; both by re-establishing relationships with the key brands and by further developing our own label products (Sync, Tora and Palm Springs) which give strong impetus to our sales and profitability.
“Earlier this year we launched our exclusive SMU ranges: Hard Ware (Jack Nicklaus Golf), Deep Red (Wilson) and Apparel Range 6 by Faldo (Nick Faldo Clothing Range).
“We have launched a dedicated Gifting Range, including luggage, watches and range finders, which proved successful in retaining sales throughout the ‘non golfing’ periods in the trading calendar, such as Fathers Day.
“Store openings will continue in the current year and we are expecting to open a further 4 stores within the next 12 months.”
American Golf www.americangolf.co.uk
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