WEATHER AIDS FORZANI GROUP RESULTS IN Q4, HURTS EARLY Q1.
Net income at the Canadian retailer and franchisor ofvarious banners rose 36% to C$28,698,000 ($28.3 mm) for the 14 weeks ended Feb.3. Total Q4 sales improved 16% to C$410,601,000 ($404.2 mm) as comparable storesales increased 10.6% in corporate doors and 17.7% in franchise locations.Excluding the extra week, comparable store sales were up 5.9% in corporatedoors and 12.8% in franchise units. Q4 retail sales rose 16% to C$338,798,000($333.5 mm) as wholesale sales gained 19% to C$71,803,000 ($70.7 mm). Grossmargins, largely due to aggressive pricing and the rise of the Canadian dollar,took a hit in ... Log in to view full article.