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October 5, 2022
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Sport Guru reaches sales of approximately 22 million lei in the first semester of 2022

Sport Guru, the most important retailer and distributor of specialized sports equipment, recorded total sales of 21.9 million lei in the first half of 2022, an increase of 32% compared to the same period last year, and a net profit of 0,75 million lei.

The results recorded in the first half of the year are in line with our expectations, considering the increase in the notoriety of the Sport Guru brand in recent years, determined by the continuous investments made in expanding the range and services of the products for our customers. At the same time, the increase in sales in the first six months of the year was generated by the expansion of the store network in the last two years, as well as by the increased interest in sports activities in general and quality sports items, in particular. The category with the highest sales in the first half of 2022 remained Cycling, with a share of approximately 22%. Still, the most dynamic categories were Skiing, Outdoor and Related Equipment, which generated almost two-thirds of the increase in sales compared to the same period of last year. For 2022, we target total sales of 50 million lei, a 31% increase compared to 2021, and a net profit of 2.5 million lei,” stated Mircea Rasovan, co-founder and CEO of Sport Guru.

At the revenue level, in the first six months of the year, the sales within the company’s five stores represented 59% of total sales, while online sales contributed 29%. Also, other revenues and sales made by Sport Guru’s distribution channel, through which products are sold mainly to key customer accounts, independent retailers, and online stores, accounted for around 12%. In the first half of the year, Sport Guru served almost 40,000 customers, a 26% increase compared to last year.

Regarding sales from brick-and-mortar stores, opening the Sport Guru store in Plaza Romania significantly contributed to the acceleration of the company’s sales in Bucharest, which increased by 35% compared to the previous year. The store in Plaza Romania is currently the one with the largest sales area in the Sport Guru network (750 sqm). Still, the Unirii boulevard location continues to generate the company’s highest sales, thanks to the notoriety gained since its opening in 2015.

At the level of the other two stores in the country – Brasov and Cluj- sales increased significantly in the first six months of 2022. Sales in Brasov increased by 69% compared to the first semester of 2021, and the store in Cluj recorded 7% higher sales than last year’s first semester.

The store in Brasov was relocated within the Coresi Shopping Resort shopping center in mid-April of this year, currently having four times the area compared to the previous location, opened in December 2020. Sales in this store are beyond expectations. It doubled its revenues between May and August 2022 compared to last year’s period. A significant contribution to this growth was the expansion of the offer in the Cycling category, which contributed almost half to the increase in sales compared to the previous year. We also recorded significant increases in the other categories in our portfolio, such as Outdoor, Related Equipment, and Running,” stated Alexandru Cristescu, co-founder of Sport Guru.

In the second part of the year, Sport Guru invested in supplementing the central storage space in Bucharest with another 380 sqm. The works were completed in August, the warehouse reaching an area of almost 1,300 square meters. The company plans to continue investing in the expansion of its store network starting next year, targeting the opening of 1-2 stores every year until 2025. Sport Guru analyzes various financing opportunities to make these investments, including a potential listing on the Bucharest Stock Exchange in the following period.

Established in 2009 as an online platform for distributing and selling specialized sports equipment by entrepreneurs Mircea Rasovan and Alexandru Cristescu, Sport Guru currently has five open stores, three in Bucharest and one in Cluj-Napoca and Brasov. The company constantly offers more than 25,000 products for sale, in its brick-and-mortar stores or through the online platform, from an extensive range of sports activities, mainly focused on Cycling, outdoor/skiing, and running/triathlon, as well as the sports technology area – sports watches, GPS, audio headphones, home trainers, muscle maintenance devices.

 

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