Financial Report: Golfsmith’s Sales Up 18% for the Year, 38% for the Fourth Quarter

Crediting its national retail strategy, new stores, and customer service programs, Austin, TX-based golf equipment cataloger/retailer Golfsmith reported its sales for the fiscal year ended Jan. 3 increased 18%, from $218.1 million to $257.7 million. Operating income for the year was $12.7 million, compared with $7.7 million for fiscal 2002. Net income was $1.1 million, compared to a net loss of $2.2 million for 2002. Same-store sales rose 7.4%.

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