Sports Authority is throwing in the towel and closing all of its stores

I was hoping they would just close the under performing stores. Noted this in the article:

?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.?
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As I said, let the market determine wages so that businesses can survive.
 
Sports Authority and Sports Chalet were both squeezed out by online retailers on one end, and successful retail stores on the other.  Big 5 does a better job at being smaller and selling shoes, Walmart is better at being cheap, and Dick's Sporting Goods is better at being bigger premium store selling everything with fat margins.

I have a...  feeling, or speculation, if Bass Pro Shops and Cabela's merge, sometime in the future they will seek to open more (smaller) sporting goods stores closer to urban areas and shift in-store products accordingly like Dick's.
 
irvinehomeowner said:
?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.?
Click to expand...

As I said, let the market determine wages so that businesses can survive.
Click to expand...

Minimum wage won't be at $15/hour until 2022. To blame the down fall of the business today on something that won't kick in 6 year from now is ridiculous.

Businesses have all the power today. That's why companies like Walmart pay below living wage and make tax payers subsidize their employees with federal food and housing programs. The fact that we don't let people just starve and be homeless means the money is already coming out of somewhere. Just not these multi-billion dollar companies who pay their CEO exorbitant high salary while cutting jobs or salary of the rank and file.
 
eatthis said:
irvinehomeowner said:
?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.?
Click to expand...

As I said, let the market determine wages so that businesses can survive.
Click to expand...

Minimum wage won't be at $15/hour until 2022. To blame the down fall of the business today on something that won't kick in 6 year from now is ridiculous.

Businesses have all the power today. That's why companies like Walmart pay below living wage and make tax payers subsidize their employees with federal food and housing programs. The fact that we don't let people just starve and be homeless means the money is already coming out of somewhere. Just not these multi-billion dollar companies who pay their CEO exorbitant high salary while cutting jobs or salary of the rank and file.
Click to expand...

You can say that as a large corporation but for the mom and pop operations, there will be less and less incentive for small businesses to stay open. This in turn will lead to more cookie cutter conglomerates taking over the market and eventually run the whole market. This will be a huge loss to the consumer as competition will decrease and so will innovation.
 
B2FiNiTY said:
eatthis said:
irvinehomeowner said:
?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.?
Click to expand...

As I said, let the market determine wages so that businesses can survive.
Click to expand...

Minimum wage won't be at $15/hour until 2022. To blame the down fall of the business today on something that won't kick in 6 year from now is ridiculous.

Businesses have all the power today. That's why companies like Walmart pay below living wage and make tax payers subsidize their employees with federal food and housing programs. The fact that we don't let people just starve and be homeless means the money is already coming out of somewhere. Just not these multi-billion dollar companies who pay their CEO exorbitant high salary while cutting jobs or salary of the rank and file.
Click to expand...

You can say that as a large corporation but for the mom and pop operations, there will be less and less incentive for small businesses to stay open. This in turn will lead to more cookie cutter conglomerates taking over the market and eventually run the whole market. This will be a huge loss to the consumer as competition will decrease and so will innovation.
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Seems like te small businesses restaurant chains are doing better now due to social media.  Services also doing better. Just too hard to compete in the retail merchandise game.
 
So in this email from the CEO, was it a bot/scheduled email?

May 3, 2016

Dear Sports Authority Customers,

We appreciate your support and patronage and want you to know that you can continue to shop at Sports Authority stores and online at SportsAuthority.com.

As we communicated in early March when we entered Chapter 11, we are closing or selling approximately 140 of our 450 stores. We continue to move forward with this process, which we expect will be completed by the end of June. During this time, you can take advantage of our ongoing sales at those stores, with big discounts on great brands and merchandise!

The majority of our stores remain open on normal schedules and you can continue to shop on SportsAuthority.com as you always have. For an up-to-date list of operating Sports Authority stores and to find the nearest location, please visit our Store Locator at SportsAuthority.com.

We remain fully committed to delivering value and great merchandise wherever you shop at Sports Authority, and we look forward to continue serving you.

Sincerely,


Michael Foss
Chief Executive Officer
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http://www.wsj.com/articles/sports-...buyer-for-major-portions-of-stores-1462292899

Sports Authority Anticipates Buyer for ?Major Portions? of Stores
Level of interest in Sports Authority ?remains high,? attorney says

By PEG BRICKLEY
May 3, 2016 12:28 p.m. ET
1 COMMENTS
No lead bidder has stepped forward to rescue Sports Authority from bankruptcy, but the distressed athletic-gear retailer expects ?substantial parties? to make offers for all ?or at least major portions? of its operations, company lawyer Robert Klyman told a judge Tuesday.

?Contrary to rumors and certain press reports, the debtors are not liquidating today,? Mr. Klyman said at a hearing in the U.S. Bankruptcy Court in Wilmington, Del.

Loaded with some $1.1 billion in debt, Sports Authority filed for chapter 11 bankruptcy protection March 2 and is headed toward a May 16 auction. The company has abandoned plans for a reorganization but is hoping the auction will bring out buyers willing to keep the chain alive.
 
Speaking from personal shopping, I spent $739 at Dick's Sporting Goods to date this year, and $0 at Sports Authority.

But Dicks and Big 5 also hand out coupons like candy.  For Dicks just sign up for their Scorecard, you can get higher savings if you sign up for their credit card.  You get $10 coupons frequently from receipt, email, or points.  For Big 5 check their web site for 20% coupons.

 
Once Spectrum does an indoor foodie hipster place, I think it's the beginning of the end. 

I wouldn't be surprised if Dicks takes over this location and closes their Tustin Marketplace location.

Other than that, I don't know what else would go there besides a big restaurant or a small department store. 
 
Havana is opening right next to Sports Authority.

Since it's so close to the other eateries, maybe a food hall isn't a bad idea.

Just bad for parking.
 
So the mailbot finally admitted it:
May 25, 2016

Dear Ronnie,

Sports Authority and its predecessor companies have been serving the sporting goods needs of our customers since 1919. It is with great sadness that we are intending to close all of our stores by the end of August.

We will be holding store closing sales at all of our locations that will allow you to take advantage of big discounts on great brands.

On behalf of the entire Sports Authority team, I would like to express our sincere appreciation to our customers for their years of loyalty. It has been a pleasure to serve you and your family.

Sincerely,


Michael Foss
Chief Executive Officer


Upcoming deadlines for taking advantage of our customer programs:

LOYALTY PROGRAM: Customers? outstanding rewards will expire on May 25, 2016, at which time the League program will terminate.
CREDIT CARDS: The Sports Authority credit card can be used to make purchases through May 25, 2016, at which time it will no longer be accepted as a valid form of payment.
WARRANTIES: Existing warranties for merchandise purchased at a Sports Authority store or on SportsAuthority.com remain in effect, and Asurion will continue covering all products purchased under our extended service plans without change or interruption. For more information, please visit www.asurion.com/ecp, or call toll-free at 1-866-882-8512.
EXCHANGES/RETURNS: You can continue to make exchanges or returns at Sports Authority stores through June 25, 2016.
GIFT CARDS: Gift cards will be honored through June 28, 2016; however we are no longer selling new gift cards.
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I was at the Spectrum one on Tuesday night and no signs of a closing sale yet.
 
It's in the first stages where they mark everything up 10% and then mark it down 10-30%.  No real savings yet. 

I think that each day that goes by, the discount will improve.  By then, the items you are looking for may be sold out.  I'll check it out again next weekend.
 
spootieho said:
It's in the first stages where they mark everything up 10% and then mark it down 10-30%.  No real savings yet. 

I think that each day that goes by, the discount will improve.  By then, the items you are looking for may be sold out.  I'll check it out again next weekend.
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What is the pace of reductions?  I wonder if the mark down % increases each week?
 
That I don't know. 

I've been to a few other Sport Authority going out of business sales and by the time the % off was where I greedily wanted it, everything I wanted was gone.  Then again, I've seen that with a lot of other stores.  You would be surprised how much they sell in the first stages when nothing really is on sale.
 
Over the weekend at the marketplace 10% ~ 30% reductions on everything. (end of may weekend).
It will go higher as merchandise levels decrease & time drags on.
 
Looks like Dick's is getting SA's database:

PRIVACY POLICY NOTICE
Transfer of Personal Information


You may have heard that Sports Authority filed for bankruptcy and is winding down its business. As part of that process, Sports Authority sold some of its assets, including its customer database to DICK's Sporting Goods. DICK's Sporting Goods is committed to helping Sports Authority customers to play on.

What does this mean for you?
First and foremost, any personal information that you provided to Sports Authority will continue to be governed by Sports Authority?s privacy policy through September 15, 2016. After that, your personal information will be governed by the DICK's Sporting Goods privacy policy. DICK's Sporting Goods is committed to protecting your personal information as set forth in DICK's Sporting Good?s privacy policy located here.

Do you have a choice?
Yes. If you do not want DICK?s Sporting Goods to keep the personal information that you provided to Sports Authority, you may opt-out of the transfer. If you opt-out, DICK's Sporting Goods will delete the personal information that you provided to Sports Authority. You can opt-out by visiting www.SAPrivacyTransferNotice.com  or by calling
1-888-836-1708 no later than September 15, 2016. The Notification ID provided below helps us to identify you and you will need your Notification ID to opt-out.

If you are already a DICK?s Sporting Goods customer, your opt-out election will not affect the use of your personal information currently on record with DICK?s Sporting Goods. You will continue to receive the same benefits you have enjoyed thus far.
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I don't know how they stay open while SA closes, always preferred Sport's Authority over them.
 
Selling customer information without the customers giving prior consent should be at least a tort (basically illegal) if it originally violated the privacy policy...

Changing the privacy policies after the fact and then quickly selling the information seems wrong.

That said, I don't really care.  Dick's has all my relevant information anyways.
 
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