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The New York Times
COMPANY NEWS; SPORTS AUTHORITY AND GART SPORTS AGREE TO MERGE

Published: February 21, 2003
Sports Authority, the largest sporting goods retailer in the nation, said yesterday that it had agreed to merge with a rival, Gart Sports, in a transaction valued at $182.6 million. Sports Authority shareholders will receive 0.37 share of Gart Sports for each Sports Authority share. Shares in the new company, to be known as Sports Authority, will be about equally divided between holders of the two companies' shares. The new company will have 385 stores in 45 states. Sports Authority operates 205 stores in 33 states, most in the East. Gart Sports is the largest sports apparel and equipment retailer in the West, with 180 stores in the Sportmart, Oshman's and Gart Sports chains.
 

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Company ProfileSports Authority is America's largest full line sporting goods retailer. The company is headquartered in Englewood, Colorado. It operates approximately 400 stores in 45 U.S. states under the Sports Authority name. Total sales for the fiscal year ending January 29, 2005 were $2.44 billion.

The Sports Authority, Inc. opened its first store in November 1987 in Fort Lauderdale, Florida. In 1990, with approximately nine stores in six states, the company was acquired by Kmart. Five years later, The Sports Authority had expanded to 136 stores in 26 states, and was spun-off from parent Kmart. At the time of its merger with Gart Sports Company, The Sports Authority was the largest full-line sporting goods retailer in the United States, and had 205 stores in 33 states.

Gart Sports, which also operated Oshman's and Sportmart, completed a merger with Sports Authority on August 4, 2003. The combined company took The Sports Authority name. With the merger, each share of Sports Authority was exchanged with 0.37 shares of Gart Sports which gave investors in each about 50% of the new merchant. The new company is based in Englewood, Colorado, which was home of Gart Sports. In May 2006, all 400 stores operated under the Sports Authority banner.

Product CategoryFitness and Sports
Web Site URLhttp://www.sportsauthority.com
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