RCG Corporation, parent company of The Athlete’s Foot has posted a Net Profit After Tax of $6.9 million, some 30.6 percent higher than last year on the back of an 11.6 percent increase in sales from The Athlete’s Foot stores.
The Athlete’s Foot network, which now numbers 143 stores across Australia and New Zealand was responsible for much of RCG’s profit growth this year. The Athlete’s Foot chain recorded total sales growth of 11.6 percent from $166.7 million to $186.1 million for the year, with 8.3 percent like‐for‐like sales growth.
RCG’s The Athlete’s Foot chain operates through a mixed franchise system, with this result the sixth consecutive year during which the footwear retailer has achieved like‐for‐like growth of more than 8 percent and total sales growth in excess of 10 percent. Strong sales have continued into the new financial year with positive like‐for‐like growth being reported across all states and territories.
Chairman of RCG Corporation, Mr Ivan Hammerschlag, sees The Athlete’s Foot shifting more of its focus towards large format stores which are seeing positive results for the company.
“We are delighted with the performance of The Athlete’s Foot. The business continues to deliver consistently outstanding results, in contrast to the significant volatility being experienced by the wider retail sector. It is worth noting that like for‐likes in both halves of the financial year exceeded 8 percent, higher than many other retailers.
“We also continue to be very pleased with the performance of our new larger format stores. This format has now become the standard presentation for all new stores and we are working hard to convert existing stores to the new format as quickly possible”, he added.
