Sports Authority Income Up in 1Q
Englewood, Calif., The Sports Authority said its net income for the first quarter was $8 million, or 30? per share, compared with $4.2 million, or 16? per share, including merger integration costs of $5.2 million, in the prior year’s first quarter.
Total sales for the quarter increased 3.4% to $591.2 million from $572 million in the year-ago period. Same-store sales rose 1.8%.
“We were pleased with our top-line performance during the quarter, primarily driven by our strength in footwear, apparel and certain hard-goods categories,” said Doug Martin, CEO.
The company expects to open approximately 14 stores, relocate four stores and close six locations during the year.