Golfsmith’s Experiential Retail Model Leads Expansion, Defies Industry Trend
Austin, Texas – January 26, 2012- – Golfsmith (NASDAQ: GOLF), the nation’s largest golf retailer announced plans to open 10 new stores and relocate four existing locations in fiscal 2012. The openings and relocations combined will result in a 17.5% increase in square footage.
Golfsmith Planned New Store Locations In 2012:
Cleveland, OH
Washington DC metro area – 3 stores
Chattanooga, TN
Nashville, TN
Atlanta, GA
Baltimore, MD
Christiana, DE
San Antonio, TX
Golfsmith’s plans for the four relocations are within existing markets. These stores will move into spaces that provide an updated and expanded golf retail experience that mirrors the Company’s new stores. All scheduled store openings and relocations will be complete by the end of the year.
Golfsmith President and CEO Marty Hanaka commented, “We are excited to execute on our strategic growth plans with this aggressive store opening blueprint. We are well-positioned to capitalize on our excellent brand recognition and further expand our market share by opening stores in what we view as underserved markets that have strong demand. These locations are a hotbed for golfers and the key reason for entry into the markets. Everything we do is focused on helping golfers of all skill levels play better – that’s our mission. The new stores will be funded by cash flow from operations.”
All new Golfsmith locations will feature driving ranges or simulators that allow customers to test drive the latest golf clubs. Every Golfsmith store offers free custom-fitting services. Club fitting specialists use computerized swing analysis systems to help customize new clubs specifically for that player’s capabilities. A study of several thousand golfers found a majority of golfers in America are playing with clubs that do not fit them properly. (www.customfityourgame.com). Golfsmith backs its custom-fit clubs with a 30-Day Custom-Fit Playability Guarantee.
“Our growth is directly traced to great product selection, guaranteed low prices on everything we sell and a commitment to exceptional customer service by the best retail professionals in the business. We are far more than a brick and mortar operation,” Hanaka added. “We offer a true multichannel concept and Golfsmith.com continues to outperform our expectations as we successfully bring some of our retail concept to the web.”
“Golf and growth haven’t gone hand in hand as of late. We’ve seen a major shift in the golf retail landscape with almost half of all golf stores in America closing in the last decade,” said Terry McAndrew, editor of Web Street Golf Daily Pulse. “But Golfsmith, despite being in the minority of businesses willing to take risks and commit financial resources, has proven growth is still achievable regardless of the economic adversity.”
To see the NGF report The State of the Industry, please click here: https://www.box.com/s/yc495selsybg0hbvlmq4 )
-Attention Broadcast, Print, Online and Photo Editors:
To download high-resolution images of the new store, please click this link:
https://www.box.com/s/lgptdvgqo9e7sjl1lie8
To download broadcast quality, HD generic Golfsmith video, please click this link:
http://www.box.net/shared/dvuq6xf4ts
About Golfsmith – Golfsmith International Holdings, Inc. (NASDAQ: GOLF), is a 44-year-old specialty retailer of golf and tennis equipment, apparel and accessories. The company operates as an integrated multi-channel retailer, offering its customers the convenience of shopping in its 79 stores across the United States, through its web site at golfsmith.com and from its assortment of catalogs. Golfsmith offers an extensive product selection that features premier branded merchandise, as well as its proprietary products, club making components and pre-owned clubs. Visit www.Golfsmith.com.
Cautionary Language – Certain statements made in this news release are forward-looking in nature and, accordingly, are subject to risks and uncertainties. These forward-looking statements are only predictions based on our current expectations and projections about future events. Important factors could cause our actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Golfsmith® is a registered trademark of Golfsmith International Holdings, Inc.
Contact:
Lynn Luczkowski, L2 Communications 860-313-1426 or Lynn@L2comm.biz
Aubrey Haznar, L2 Communications, 617-549-8792 or Aubrey@L2comm.biz
Chris Miller, Golfsmith, 512-821-4131 or chris.miller@golfsmith.com
Real Estate Inquiries, Golfsmith, realestate@golfsmith.com
