Golfing specialist American Golf EBITDA dipped to below £7.5m last year as plots its aggressive expansion and ladieswear push.
Sales rose 3% to £133m in its year to January 31. EBITDA was down from £8m last year which the retailer, which was acquired by private equity firm Sun European Partners in December 2011, said was down to its investment in new stores and its ecommerce business.
This investment is set to continue as the 100 store retailer is targeting opening a further 30 stores over the next three years. Its 100th store was opened under a new format which aims to “raise the bar” in terms of brand offering, range authority, expert advice and club fitting, the retailer said.
It is also set to launch new ladies stores within its sites. Female golfers now represent 15% of all players.
American Gold chief executive Kevin Styles said: “Last year was a game-changing one for the business. We delivered record sales and, more importantly, made some major improvements and investments to get the platform right for our next growth phase. This included strengthening our ecommerce business, developing the best golf retail store format in Europe, further strengthening our merchandising and range authority and investing in our people.”
He added: “What didn’t change was our focus on helping customers improve their performance, by providing them with the best advice, expert fitting and the kit that’s right for their game. It’s all about saving our customers more shots.
“Performance is our proposition, and this is backed up by the expertise of our team, state of the art club fitting technology, the widest product choice, great value and the best multi-channel experience in the sector.”