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Golfsmith reports $399,000 operating loss for April 30-May 27 period
By Caroline Salls
Pittsburgh, July 6 – Golfsmith International Holdings, Inc. reported a $399,000 operating loss for the period of April 30 through May 27 on negative $11,000 in net revenue, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
By comparison, Golfsmith posted an $859,000 operating loss for the period of April 2 to April 29 on $72,000 in net revenue.
Net income for the May period was $16.31 million, improving from $16 million of net income for the previous period.
The company had $10.94 million in cash as of May 27, down from $11.39 million at April 29.
Golfsmith, an Austin, Texas-based golf specialty retailer, filed bankruptcy on Sept. 15, 2016. Its Chapter 11 case number is 16-12033.
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