Golf Galaxy, Inc. (GGXY) reports increasing net income. But compared to last year's comparable quarter, same store sales are off dramatically, barely registering a fractional increase of less than 1%.
Additionally, the company's cash position has dropped dramatically in what you would expect to have been their best golf quarter seasonally.
Last but not least, the inventory position is up a dramatic 50%. This is a caveat emptor moment.
Webcast of yesterday's GGXY Earnings Conference Call
GGXY 1-yr chart: