USA: Gart Sports Back On Track
Sporting goods retailer Gart Sports has reported improved year-on-year results including the integration of Oshman's Sporting Goods which it acquired in early June. Second quarter net income rose to $4.0m, or $0.39 per diluted share, excluding the effect of $2.1m net of tax, or $0.21 per diluted share, of one-time integration costs associated with the Oshman's acquisition. In the prior year's second quarter, net income for Gart Sports, excluding the effect of a significant tax benefit, was $2.6m, or $0.34 per diluted share.
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