In an interview with the Denver Post, Darrell Webb, Sports Authority's chief executive officer, said the chain is accelerating new store openings with 20 to 21 stores to open this year and 25 projected to open in 2013. New store openings had slowed to eight per year in recent years.
Webb noted that expansion is on hold for its smaller, premium-specialty concept, S.A. Elite. It currently has 10 in operation with the first opened in the Denver area in 2010.
“We're in a 'test, learn and refine' mode” for S.A. Elite, said Webb. “We're not looking to grow immediately.”
The article particularly explored TSA’s $150 million deal to earn naming rights for Denver Broncos' stadium and the retailer has apparently benefited from the team landing Peyton Manning
“We are thrilled to have the relationship with the Broncos,” he told the Denver Post.
TSA has been privately-held since being taken private by Leonard Green & Partners in 2006.
Other news from the report:
- A chain-wide remodeling project will be launched to provide a “brighter and airier appearance” to stores. The design was tested at Sports Authority's Glendale store. Said Webb, “”Clearly, performance has improved;”
- Sports Authority will phase out hunting and fishing departments at most stores because of low margins and slow turn;
- Webb, who joined TSA as the interim CEO in August 2011 following the resignation of David Campisi, earlier this year signed a four-year contract to stay with Sports Authority. He formerly ran JoAnn Stores;
- Webb indicated the chain has seen “significant improvement” in operating expenses and gross margins since he took over.
