Forzani aims to boost sales by $1B

Sporting goods retailer Forzani Group Ltd. (TSX:FGL) plans to increase its sales by 10 per cent a year over five years by reducing its banner count and expanding its Sport Chek outlets across the country.

TORONTO — Sporting goods retailer Forzani Group Ltd. (TSX:FGL) plans to increase its sales by 10 per cent a year over five years by reducing its banner count and expanding its Sport Chek outlets across the country.

Forzani CEO Bob Sartor said Tuesday he believes the Calgary-based retailer can increase its sales from $1.6 billion currently to $2.6 billion by 2014 while seeing 15 per cent annual growth in earnings before interest, taxes and amortization with minimal capital investment.

“We see tremendous opportunity to grow this business more profitably than even before, without acquisitions and without significant capital, and that will drive returns for our shareholders,” Sartor said at the company’s annual meeting in Toronto.

He added that he hopes to see earnings per share increase 20 per cent a year from 93 cents currently to between $2.25 and $2.35 by 2014 through earnings growth and “a regular, gradual share buyback program.”

Just Posted

Red Deer MPs speak to the business community

Red Deer & District Chamber of Commerce host Breakfast with the MPs

Cops to serve crêpes for Special Olympics in Red Deer

Law Enforcement Torch Run (LETR) officers will serve crêpes and other Cora’s… Continue reading

Dangers of couch surfing preferred by Red Deer youth to the loneliness and conflicts of home

‘I did not feel loved or cared for,’ said the homeless teen

Walmart experiments with AI to monitor stores in real time

LEVITTOWN, N.Y. — Who’s minding the store? In the not-too-distant future it… Continue reading

Bishop now the Stars goalie trying to beat Blues in playoffs

Ben Bishop grew up rooting for the St. Louis Blues before being… Continue reading

Nashville gets its chance to step up for NFL draft

NASHVILLE — Broadway in downtown Nashville is as lively a place as… Continue reading

The Cranberries, still in mourning, return for the last time

NEW YORK — Whether or not there would be a final Cranberries’… Continue reading

Dance studio owner in dispute with Burton Cummings fined for noise ticket

MOOSE JAW, Sask. — The owner of a dance fitness studio who… Continue reading

Gardening: Time and effort key to buying garden plants

Greenhouses, garden centers and box stores are set to start selling bedding… Continue reading

Montreal native Nicholas Latifi off to solid start on Formula 2 race circuit

Practice makes perfect for Canadian Nicholas Latifi. The 23-year-old Montreal auto racer… Continue reading

Bruins victory over Leafs ensures an American team will hoist the Stanley Cup

TORONTO — Many NHL players were either not yet born or too… Continue reading

Swole, buzzy, among new words in Merriam-Webster dictionary

BOSTON — Get swole, prepare a bug-out bag, grab a go-cup and… Continue reading

Most Read