Content area
Full Text
Golf Galaxy Inc., which announced this year its plan to ramp up growth in anticipation of an eventual public offering, expects to double its store count in the next two years.
The company will open 10 stores in 2004, including its first foray into the Philadelphia market, said Randy Zanatta, CEO. It anticipates an additional 15 stores in 2005, which would bring its store count to 49.
Golf Galaxy is moving its headquarters to Eden Prairie next month, and will open stores in Virginia Beach and Richmond, Va., and St. Louis in 2004.
The ramped-up growth follows two years of profitability. Golf Galaxy can now afford to open these stores on existing cash flow without additional private financing rounds.
Previously, the company had raised $34 million in one private offering and four equity rounds to finance its...