SYDNEY: RCG Corporation, owner of The Athlete’s Foot stores, has announced a record half-yearly profit for the six months to December 27, 2009.
It reported EBIT of $3.6 million, up 31.1 per cent on the prior year. Consolidated profit after tax increased by 16.8 per cent from $2.5 million to $2.9 million.
It experienced 11.4 per cent sales growth for The Athlete’s Foot compared to the same period the previous year, with like-for-like growth of 8.4 per cent.
In January this year it had a like-for-like sales growth of 16.4 per cent, resulting in year to date like-for-like growth of 10.4 per cent for the seven months to the end of January.
RCG purchased the Shoe Superstore chain of three stores in late 2009. In the four months to December 27, 2009 it recorded sales of $1.45 million, a like-for-like growth of 19.6 per cent on the same period the previous year.
The company took over the Merrell shoe brand’s Australian distribution from January 1 this year. Chairman of RCG Corporation Ivan Hammerschlag said the business was up and running smoothly.
“We look forward to exploring the growth opportunities in the coming months,” he said.