The company opened two new stores, relocated one store and closed one store during the fourth quarter to arrive at a total number of stores in operation as of January 28th 2006 of 398 stores in 45 states.
Doug Morton, CEO said, "We exceeded our comparable sales expectations for the fourth quarter due to strong sales performances in active and outdoor apparel, fitness and team sports. The favorable sales combined with improved gross margins and continued expense controls resulted in earnings exceeding our previous guidance. Finally, I would like to thank all of our associates for their hard work and dedication in helping to deliver a successful quarter and fiscal year."
On January 23rd 2006 The Sports Authority Inc had entered into a definitive agreement to be acquired by an investor group led by Leonard Green & Partners L.P. and including members of Sports Authority's senior management team, for $37.25 per share in cash.
Excluding the impact of the proposed acquisition by an investor group led by Leonard Green & Partners L.P., for fiscal year 2006, the company is forecasting comparable store sales to increase approx. 2 percent and diluted EPS between $2.35 and $2.40 based on an estimated 27.5 million diluted shares outstanding.
The Sports Authority Inc, headquartered in Englewood, CO, is one of the nation's largest full-line sporting goods retailers offering a comprehensive high-quality assortment of brand name sporting apparel and equipment at competitive prices.
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