American Golf's sales rise
Specialist sports retailer American Golf achieved a 13.8% rise in year-on-year sales during the first quarter of 2011 with sales rising by £14.3 million to £86.6 million for the year to 31 January.
With 83 stores in the UK, seven of which opening in the last year, the retailer said its continued expansion had been a key factor in its success. Further store openings are planned for the south of England later this year.
The company’s internet business also performed well with online sales contributing 15% of revenue. This was helped by the acquisition of SW Golf, the operator of onlinegolf.co.uk, back in March.
American Golf is owned by LDC, the private equity arm of Lloyds Banking Group, which has been reported to be considering selling the business for up to £80 million.
Chief executive Nick Wood said: "We've made excellent progress with our growth strategy over the last 12 months despite one of the toughest climates for retail for several decades. We have an excellent opportunity to grow further by expanding our footprint in the south of England where our brand is less well represented."
The retailer said that it had also benefited from the continued success of European players which had increased domestic interest in the sport.
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