Golfsmith International Holdings Inc. (GOLF) reported neraly 12 percent rise in second-quarter net revenues to $146.0 million from $130.2 million last year. Also, net revenues reflect a 4.7 percent increase in comparable-store sales and a 4.8 percent drop in net revenues from the direct-to-consumer channel.
The company attributed the sales decline in the direct-to-consumer business to a 27.1 percent drop in its catalog business associated with the declines in the clubmaker catalog channel, partially offset by an 8.3 percent growth in the web channel.
Golfsmith International has opened 10 new stores and has not closed any stores since the second quarter of last year.
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