TORONTO (Reuters) - Forzani Group Ltd.
The Calgary, Alberta-based company, whose banners include National Sports, Coast Mountain Sports and Sport Chek, said it earned C$294,000 ($267,000), or 1 Canadian cent a share, for the quarter ended April 30.
That compares with a loss of C$7.4 million, or 23 Canadian cents a share, for the same quarter a year earlier.
"I don't believe that we're firing on all cylinders yet, but we are a much-improved business," chief executive Bob Sartor told an analysts' call.
"Our second quarter is off to a great start."
Analysts, on average, had expected the retailer to post a loss of 1 Canadian cent a share, according to Reuters Estimates.
Retail sales rose 15 percent to C$299 million during the quarter, getting a boost from the company's recent acquisition of Fitness Source Inc., as well as higher sales at existing stores.
Same-store sales, a key indicator of retail performance, jumped 10 percent, with corporate same-store sales up 12 percent and franchise same-store sales up 6 percent.
Gross margin for the quarter was 32 percent of revenue, compared with 29 percent in the same period a year earlier.
Shares of Forzani were 30 Canadian cents higher at C$14.80 at midafternoon on Thursday on the Toronto Stock Exchange.
The stock has gained about 14 percent so far this year.
($1=$1.12 Canadian)
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