Posted on 04/29/2016 6:54:23 PM PDT by kaehurowing
Why Sports Authority is throwing in the towel and closing all of its stores
When struggling retailer Sports Authority filed for Chapter 11 bankruptcy last month in the face of more than $1 billion in debt, the company indicated that it had two options going forward.
One of those was to shed underperforming stores and emerge from bankruptcy as an intact, but pared-down company. The other was to sell everything and cease operating.
On Tuesday, the company appeared to choose the latter.
. . .
“With the minimum wage going up to $15 an hour and more people turning to online shopping, more stores are going to close,” Lempert said. “It’s fine to say that everyone should have a living wage. But the money has to come from somewhere.”
(Excerpt) Read more at pasadenastarnews.com ...
Yup. Cute and funny from a little boy. Not so much from adults, or anyone beyond the ‘age of reason.’
There are significant differences.
The catalog is interactive and always up-to-date.
Most of the on line places I shop have review of various items by real users. I can get a good idea of quality, hidden features, etc.
I can get 2 day delivery instead of 2 month delivery. I can get vendor approval ratings an they can get customer ratings. A great way to keep everyone reputable.
I started going to Big 5 when Sports Authority gave up selling guns. Giving up selling guns and ammo is what sunk K-mart.
I see the chatty lonely people on a fairly regular basis. They’re almost as bad as the foreign-language speaking people that neglect their kids and shop in groups of 6 or more, thereby taking up entire aisles to other shoppers can’t pass.
They were the most improperly named store I can think of.
I’ve been looking for a gun safe. I think I see a good deal coming along.
Except you weren’t taxed when you bought something through a print catalog like you are now. Change is inevitable whether it is good or for worse, things change.
I think the point was that SA saw no reason in trying to reorganize with increased labor costs due to the $15hr law on the horizon in an increasing number of states. Best to just liquidate and say the hell with it
Yup. Here in Seattle.
That’s bull shit.
Sports Authority has been steadily declining since their decision to NOT sell guns.
I haven’t been in one since they took that stance.
What, go to one to purchase overpriced clothes?
NO.
I can see it already, “Welcome to the Get High Mile High Stadium, sports fans.”
A Mittens company. Maybe he should spent time trying to fix companies which he is very good at, instead of trying to fix elections which he is not so good at.
I think the advantage of in-person shopping is to have personal service, which you cannot really get online. A knowledgeable person to answer questions accurately, and help you find what you want/need.
Unfortunately, that is rarely the reality. But there are a few that do well with this. I imagine it’s hit or miss, but I’ve had good experiences recently at Men’s Wearhouse.
This approach can work for sporting goods, too, but it may be hard to have people highly knowledgeable about every sport in a big box store.
Last thing I bought there was a boating air horn to blast telemarketer phone calls.
CA's minimum wage is $10/hr and won't hit $15 until 2022. Sports Authority is already in Chapter 11.
This sure looks like poor management trying to blame their failings on the minimum wage,
Actually, I think their biggest problem is Amazon.
actually, the minimum wage was the fig leaf drug out to conceal the fact the business was poorly run and not capable of existing
“Best to just liquidate and say the hell with it “
They didn’t get a choice. No one wanted to back their lousy business practices. The due diligence came back that they knew nothing about properly running a business. About damned time financial organizations stopped backing incompetent people in business.
The Academy Sports and Outdoors near us is packed from the moment the doors open in the morning until it closes at night. Same for the Bass Pro a bit farther away. And a couple of smaller sports/outdoors stores also manage to survive with competitive prices, smart inventory decisions, and excellent customer service.
I liked the stores when they were called Gart Brothers.
Gart was MUCH better.
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