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BUSINESS
August 12, 1998 | Bloomberg News
Sports Authority Inc. rejected the $445.2-million bid for a 70% stake made by Gart Sports Co., its smaller rival that's controlled by Leonard Green, a keen investor in troubled companies. The nation's largest sports retailer said the price was unacceptable and said it was concerned about whether Denver-based Gart could finance its bid. Officials at Gart weren't immediately available for comment. Sports Authority said it also may shelve an agreement for Venator Group Inc.
BUSINESS
October 7, 1998 | From Bloomberg News
Sports Authority Inc., the largest U.S. sporting goods chain, said it will have a wider-than-expected loss in the latest quarter because of weak sales and that it will close 18 unprofitable stores after the holiday season. Separately, office supplies retailer OfficeMax Inc. said its earnings will miss forecasts in the fiscal third and fourth quarters because of falling prices and slowing demand for personal computers and fax machines.
BUSINESS
September 11, 1998 | Reuters
Retailer Venator Group Inc. said it is terminating its merger agreement with leading sporting goods retailer Sports Authority Inc. because of market conditions. New York-based Venator had reiterated its intention to buy Sports Authority on Aug. 20 despite disappointing earnings and a stock price below the $20.50-per-share "walkaway" price specified in the deal. Under the walkaway provision, shareholders could opt out of the deal if Venator's stock price was less than $20.
BUSINESS
October 7, 1998 | From Bloomberg News
Sports Authority Inc., the largest U.S. sporting goods chain, said it will have a wider-than-expected loss in the latest quarter because of weak sales and that it will close 18 unprofitable stores after the holiday season. Separately, office supplies retailer OfficeMax Inc. said its earnings will miss forecasts in the fiscal third and fourth quarters because of falling prices and slowing demand for personal computers and fax machines.
BUSINESS
March 6, 1990 | United Press International
K mart Corp. announced that it has acquired the Sports Authority of Ft. Lauderdale for an undisclosed amount of cash. The Sports Authority operates a chain of eight large stores offering brand-name apparel and sporting goods. It will operate as a separate subsidiary of K mart. Last year, K mart opened two Sports Giant sporting goods stores in the Detroit area. Those stores will be converted into Sports Authority stores this year.
BUSINESS
September 22, 1992 | DEBRA CANO, SPECIAL TO THE TIMES
A shopping mall wasn't likely--neighboring cities had already captured the marketplace. Auto dealerships also weren't practical--such businesses abound on nearby Harbor and Beach boulevards. "We were not looking to create another strip center. We were looking for creative projects for what pieces of land were left," said Laurann Cook, a Fountain Valley councilwoman. "There was no way to compete with the shopping centers, so we asked, 'What's our niche in the marketplace?'
BUSINESS
August 17, 1994 | GEORGE WHITE, TIMES STAFF WRITER
Rebuffed by shareholders the first time around, embattled Kmart announced Tuesday that it will spin off its book, office supply and sporting goods chains to raise money for the expansion and modernization of its more than 2,000 discount stores. Analysts said the sale of 51% of Kmart's OfficeMax, Sports Authority and Borders-Waldenbooks subsidiaries could raise as much as $3 billion. Kmart's board, meeting at its Troy, Mich.
BUSINESS
February 21, 2003 | From Reuters, Bloomberg News and Times Staff Reports
Sports Authority Inc. and Gart Sports Co., the nation's two largest independent sporting goods retailers, said Thursday that they agreed to merge to better compete against giant retailers such as Wal-Mart Stores Inc. The longtime rivals said that a merger would give the combined firm 3% of the $75 billion in annual sales of sporting goods, allowing it to negotiate more favorable prices from wholesalers.
BUSINESS
September 11, 1998 | Reuters
Retailer Venator Group Inc. said it is terminating its merger agreement with leading sporting goods retailer Sports Authority Inc. because of market conditions. New York-based Venator had reiterated its intention to buy Sports Authority on Aug. 20 despite disappointing earnings and a stock price below the $20.50-per-share "walkaway" price specified in the deal. Under the walkaway provision, shareholders could opt out of the deal if Venator's stock price was less than $20.
BUSINESS
August 12, 1998 | Bloomberg News
Sports Authority Inc. rejected the $445.2-million bid for a 70% stake made by Gart Sports Co., its smaller rival that's controlled by Leonard Green, a keen investor in troubled companies. The nation's largest sports retailer said the price was unacceptable and said it was concerned about whether Denver-based Gart could finance its bid. Officials at Gart weren't immediately available for comment. Sports Authority said it also may shelve an agreement for Venator Group Inc.
BUSINESS
August 17, 1994 | GEORGE WHITE, TIMES STAFF WRITER
Rebuffed by shareholders the first time around, embattled Kmart announced Tuesday that it will spin off its book, office supply and sporting goods chains to raise money for the expansion and modernization of its more than 2,000 discount stores. Analysts said the sale of 51% of Kmart's OfficeMax, Sports Authority and Borders-Waldenbooks subsidiaries could raise as much as $3 billion. Kmart's board, meeting at its Troy, Mich.
BUSINESS
September 22, 1992 | DEBRA CANO, SPECIAL TO THE TIMES
A shopping mall wasn't likely--neighboring cities had already captured the marketplace. Auto dealerships also weren't practical--such businesses abound on nearby Harbor and Beach boulevards. "We were not looking to create another strip center. We were looking for creative projects for what pieces of land were left," said Laurann Cook, a Fountain Valley councilwoman. "There was no way to compete with the shopping centers, so we asked, 'What's our niche in the marketplace?'
BUSINESS
March 6, 1990 | United Press International
K mart Corp. announced that it has acquired the Sports Authority of Ft. Lauderdale for an undisclosed amount of cash. The Sports Authority operates a chain of eight large stores offering brand-name apparel and sporting goods. It will operate as a separate subsidiary of K mart. Last year, K mart opened two Sports Giant sporting goods stores in the Detroit area. Those stores will be converted into Sports Authority stores this year.
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