Wednesday, September 20, 2006

Galaxy Bogie

Golf Galaxy, Inc. (Nasdaq: GGXY reports increasing net income. But compared to last years comparable quarter same store sales are off dramatically barely registering a fractional increase of less than 1%. The cash position has dropped dramatically in what you would expect their best golf season quarter. Last but not least the inventory position is up a dramatic 50%. This is a caveat emptor moment.