Sports Authority Shows Growth
Englewood, Colo., The Sports Authority reported net income for the second quarter was $14.2 million, compared to $6.8 million in the same quarter last year. Total sales for the second quarter were $617.0 million compared with $605.0 million in the prior year’s second quarter, an increase of $12.0 million, or 2.0%. Second-quarter comparable-store sales for the company increased 0.2%.
Doug Morton, CEO, commented, “We exceeded earnings expectations for the second quarter driven by improvements in gross margin and effective management of our operating expenses.”
The company opened one store and closed two stores during the second quarter. As of July 30, it had 392 stores in 45 states.