Let Golf Galaxy help with your galactic battle to break par. It operates about 80 golf superstores in 30 states. Stores offer " Everything for the Game," including equipment, apparel and shoes, gifts, accessories, books, and videos. Golf Galaxy also sells pre-owned clubs and boasts a trade-in program. In-store amenities include computer video swing analysis, onsite certified club technicians, indoor driving bays, full-sized putting greens, and advice on equipment from a staff that includes PGA and LPGA professionals. Golf Galaxy also operates a namesake website and catalog. Founded in 1997 by former executives Randy Zanatta and Greg Maanum, it is owned by Dick's Sporting Goods.
The deal with Dick's, consummated in 2007 and valued at $227 million, has helped the golf retailer to lessen the sales gap between itself and #1 sporting goods retailer The Sports Authority. It has also offered Golf Galaxy the benefits of Dick's deeper pockets. As part of the transaction, the company eventually shuttered its Minnesota corporate headquarters.
Following a major economic downturn, Golf Galaxy has worked to retain profits by carefully managing its portfolio of stores. This strategy involves opening just a couple stores a year while closing underperforming locations. In general, Golf Galaxy stores range in size from 13,000 to 18,000 sq. ft. and are open seven days a week. The company likes to position its stores in retail centers alongside Wal-Mart, Target, Best Buy, Lowe's, or Staples. During fiscal 2010 the retailer opened two golf shops (one more than in 2009) and closed a dozen others, citing inadequate real estate locations or areas where it was too expensive to operate a store.
For its parent, overall net sales rose about 10% in 2010 due primarily to a 7.4% boost in consolidated same store sales and to the opening of new stores. Strategically, it was the first time that Dick's rolled its e-commerce business into its consolidated same-store sales calculation. As a result, the sales increase breaks down to a 6.8% rise in sales at Dick's Sporting Goods stores, a 5.1% increase at Golf Galaxy, and a 38.1% increase in the company's e-commerce segment. In the meantime, the golf retail chain is banking on its interactive concept to lure new customers. – less
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