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News > Companies
Sports Authority tops mark
August 22, 2000: 8:55 a.m. ET

Retailer posts strong profit gain on flat sales, sees smaller 3Q loss
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NEW YORK (CNNfn) - Sports Authority Inc. posted a better-than-expected gain in fiscal second-quarter income Tuesday despite flat sales and said its third-quarter loss should be narrower than in the year-ago period.

graphicThe nation's largest sporting goods retailer earned $6.7 million, or 21 cents a share, in the period ended July 29, excluding an extraordinary gain from early debt retirement. That edged past the 19 cents a share forecast of analysts surveyed by earnings tracker First Call. Net income was $2.3 million, or 7 cents a share, a year earlier.

Sales rose to $389.6 million from $385.6 million. Sales at stores open at least a year, a closely watched retail measure known as same-store sales, gained 2 percent.

The company said that while third-quarter sales are expected to be soft as usual, it believes its loss will be less than the 55 cents a share deficit in the third quarter a year earlier. First Call puts the year ago-loss at 16 cents a share, and forecasts a 26 cents a share loss for the current period. Company officials were not available to clarify how results would compare to forecasts for the period.

Shares of Sports Authority (TSA: Research, Estimates) gained 3/16 to 2-3/8 in trading Monday. Back to top

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