Athlete’s Foot boosts RCG profits

The Athlete’s Foot parent company RCG has reaffirmed its net profit for this financial year will growth by 28 per cent.

At the annual general meeting, chairman Ivan Hammerschlag said the company’s profit guidance will grow between $8.4 million to $8.8 million after tax.

This was reiterated by the 10 per cent growth of The Athlete’s Foot in the first four months of the financial year. It also saw three new store openings at the beginning the new financial year taking the total store number to 145.

“These results are very pleasing considering that TAF is coming off a very high base: In the same period last year, TAF experienced sales growth of 13 per cent and like-for-like growth of 10 per cent,” the company said.

RCG also noted it will be opening its first Merrell flagship store in Sydney’s Castle Towers this December.