11:49 AM EST - Forzani Group Ltd. : announced a decline in fourth-quarter net earnings to $24.17 million, or $0.79 per share, from $28.7 million, or $0.85 per share in the prior year. The company noted that Athletes World stores added $200,000 or $0.01 per share to consolidated net earnings. Total revenue for the quarter declined 7.3 per cent to $380.8 million from $410.599 million in the previous year. Same store sales decreased 5.1 per cent. Excluding the impact of the 14th week in the prior-year's quarter, quarterly sales were down 3.5 per cent in corporate locations and up 5.9 per cent in franchise locations for an overall same store sales decrease of 0.2 per cent. For the full year 2009, net earnings for the year were down significantly at $29.3 million, or $0.93 per share compared to $47.5 million or $1.39 per share in the prior year. Revenue increased 1.2 per cent to $1.346 billion from $1.331 billion last year. Same store decreased one per cent. Excluding the impact of the 53rd week in fiscal 2008, sales were down 1.9 per cent in corporate locations and up 4.8 per cent in franchise locations for an overall same store sales increase of 0.5 per cent. Forzani Group Ltd.
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