Dick’s Could Grab Up To 180 Closing Sports Authority Stores
Sports Authority’s loss will likely be Dick’s gain—the nation’s largest sporting goods retailer is the most likely bidder for the majority of closing Sports Authority stores.
The leases on those stores could go to auction as early as next week, and Dick’s could get its hands on up to 180 new store locations, the Denver Post reports. 80 of those locations do not have competition within a 10- to 25-mile radius. Dick’s stands to make a $370M sales boost if it gets them all, a Canaccord Genuity analyst says.
No doubt Dick’s is chomping at the bit—the CEO said the firm would be aggressive in capturing sales from the sinking Sports Authority. [DP]