Search
 

Golf Galaxy Goes Public

EDEN PRAIRIE, MN-The golf equipment superstore chain of 44 stores plans to raise about $46 million by offering its stock to the public. The retailer says one use of the money would be to open up to 22 more stores over the next one to two years.

By Jim McCartney | Updated on May 18, 2005

For more retail coverage, click GlobeSt.com/RETAIL.

EDEN PRAIRIE, MN-Golf Galaxy revealed plans Tuesday to sell its shares to the public this week, a $46-million initial public offering that would allow it to open up to 22 more stores this year and next. The retailer now has 44 stores in 18 states; three of them are in the Twin Cities. Stores average from 12,000 sf to 17,000 sf in size.

The company said it would open a total of 14 to 16 new stores in the current fiscal year, of which 10 have already been opened. On average, the company spends $1.1 million per store. Golf Galaxy plans to open another 14 to 16 new stores in fiscal 2007. Overall, Golf Galaxy thinks there is room for about 250 of its stores in the US.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.