Golfsmith International Holdings Inc. (GOLF) announced anticipated financial results for the fourth quarter and fiscal 2009 based upon preliminary figures.
Fourth-quarter net revenues totaled $63.9 million compared to $67.8 million in the fourth quarter of 2008. Comparable store sales increased 0.9%. Pre-tax loss is expected to be in the range of $6.2 million-$6.5 million compared to a pre-tax loss of $7.1 million in the fourth quarter of last year.
Fiscal 2009 net revenues totaled $338.0 million compared to $378.8 million in fiscal 2008. Comparable store sales decreased 7.9%. Pre-tax loss is expected to be in the range of $3.0 million-$3.3 million compared to a pre-tax loss of $0.4 million in fiscal 2008.
The company also announced its plans to institute five key initiatives in 2010 aimed at driving sales and earnings growth which include: improving the retail business with an increased emphasis on the company's selling culture; the opening of four new stores; increasing gross margin; refining the direct-to-consumer business; and executing operational excellence.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.