* To consolidate Coast Mountain Sports, Atmosphere banners
* Coast Mountain stores to be operated as Atmosphere * Expects consolidation to be completed by Spring 2010
Sept 8 (Reuters) - Forzani Group Ltd FGL.TO, Canada’s biggest sporting goods retailer, said it will consolidate its two outdoor and lifestyle banners to improve efficiencies and reduce overlap and competition between its own outlets.
As part of streamlining its banner count, the company will consolidate Coast Mountain Sports and Atmosphere banners to create a single national outdoor lifestyle banner under the Atmosphere name.
Forzani said it will convert Coast Mountain Sports, the outdoor lifestyle banner in its corporate store chain, to the Atmosphere name, while the existing Atmosphere stores will remain franchised.
As of May 1, there were 23 Coast Mountain Sports stores, according to the company’s web site.
Pursuant to the conversion, which is expected to be completed by Spring 2010, Forzani expects to operate 63 locations under the Atmosphere name.
Forzani shares, which have more than doubled in the last six months, closed at C$14.50 Friday on the Toronto Stock Exchange. (Reporting by R. Manikandan in Bangalore; Editing by Gopakumar Warrier)