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cheapbag214s · Posted: Mon 2:54, 02 Sep 2013 Post subject: RCG Corp kicking into mining boom

RCG Corp kicking into mining boom,[link widoczny dla zalogowanych]
RCG,[link widoczny dla zalogowanych], better known for its Athlete's Foot sports shoes chain,[link widoczny dla zalogowanych], says its diversification into miners' workwear helped it book a record first half profit,[link widoczny dla zalogowanych], unlike other struggling retailers.
The retailer began distributing CAT (Caterpillar) work boots in Australia in April 2011 and its clothing range of parkas,[link widoczny dla zalogowanych], jackets,[link widoczny dla zalogowanych], T-shirt,[link widoczny dla zalogowanych], shorts and trousers in January 2012.
The company said RCG Brands - the wholesale arm which includes CAT - was on track to lift the division's full year sales 35 per cent and and profits by at least 20 per cent,[link widoczny dla zalogowanych].
The impressive performance by CAT helped RCG's net profit rise 2.4 per cent to a record $4.02 million for the half year to December 25,[link widoczny dla zalogowanych], 2011,[link widoczny dla zalogowanych], from $3.9 million a year earlier.
Sales rose 21,[link widoczny dla zalogowanych].5 per cent to $23,[link widoczny dla zalogowanych].7 million from $19,[link widoczny dla zalogowanych].5 million.
The profit and sales rises came despite a drop in sales at The Athlete's Foot and RCG's Shoe Superstore outlets,[link widoczny dla zalogowanych].
The Athlete's Foot sales dipped for the first time in four years,[link widoczny dla zalogowanych], dropping 2.3 per cent to $86.6 million.
Like-for-like sales, excluding new store openings,[link widoczny dla zalogowanych], were down four per cent to $84 million.
"This is the first period that we've had a negative like for like (for Athletes' Foot),[link widoczny dla zalogowanych],'' Mr Hammerschlag said.
"Considering where the rest of the market is I suppose we should be grateful,[link widoczny dla zalogowanych].''
However the chain managed to maintain its earnings before interest, tax,[link widoczny dla zalogowanych], depreciation and amortisation (EBITDA) at $5.4 million thanks to operating efficiencies.
Mr Hammerschlag said sales had begun improving significantly,[link widoczny dla zalogowanych], rising 3.5 per cent on a like-for-like basis in the seven weeks since the end of December.
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