The Sports Authority Inc. has reported a net loss of $4.2 million or $0.13 per diluted share for the third quarter ended Nov. 2. In the comparable period of the prior year, the company recorded a net loss of $4.5 million or $0.14 per diluted share. Sales for the third quarter were $309.3 million, an increase of 1.5 percent over sales of $304.8 million for the third quarter last year. Comparable store sales increased by 0.4 percent. CEO Marty Hanaka noted that the company's third quarter income statement reflected $700,000 of pre-opening and grand opening expenses associated with three new stores. "While we cannot predict consumer behavior during the important holiday selling season, The Sports Authority is positioned better than ever to serve its customers," Hanaka said.
Dick's Sports IPO followed by record 3rd Q sales
Following an October IPO, Dick's Sporting Goods Inc. (NYSE: DKS) has reported record sales and net income results for its third quarter, ended Nov. 2. In its first reporting period since its initial public offering, the company announced pro forma net income for the quarter of ...read more