Golfsmith swings to loss in Q3

Austin, Texas Golfsmith International Holdings reported Wednesday a loss of $1.1 million for the third quarter, compared with net income of $1.1 million a year earlier.

Revenues increased 3% to $93.3 million for the quarter. Same-store sales dropped 1.7%.

“As we continue to operate in an inconsistent retail environment, we will remain diligent in maintaining disciplined inventory management and expense controls, while at the same time making strategic investments to drive sales,” said Martin Hanaka, chairman and CEO.

The specialty golf and tennis retailer operates approximately 70 stores