Sports Authority history

Gart opened its Sportscastle super store at 10th Avenue and Broadway in Denver in 1981.

Sports Authority was founded as a concept sports super store in Fort Lauderdale, Florida in 1987.

The concept was developed by Kmart into a chain with 136 stores in 1990.

In 1991, as revenue rose to $240 million, the company enjoyed its first profitable year of operation, reporting an operating income of $3.3 million.

In 1992, sales climbed more than 70 percent while income more than tripled as 20 new stores were opened.

By the start of 1993, Sports Authority had become less dependent on Kmart and had gained enough financial strength to fund the opening of 10 new stores on its own during the first six months of the year.

In August 1994, following a record $974 million loss the previous year, Kmart made the decision to take its three most successful specialty shops public to fund the renovation of its older stores and the introduction of Super Kmart Centers.

By 1998, when Martin Hanaka replaced the spirited, long-time CEO Jack Smith, the company was in dire need of a turnaround.

As Smith looked forward to the second half of the decade, he predicted that by the year 2000 his company would reach $5 billion in annual sales and expand to 500 stores in the United States alone.

In 2001, the company was scheduled to pay its first bonus in five years.

The most prominent acquisition was the 2003 merger between Sports Authority and Gart Sports.

In August 2006, Copeland's Sports, headquartered in San Luis Obispo, California filed for Chapter 11 bankruptcy and on November 17, 2006, Sports Authority, through a wholly owned subsidiary, assumed the leasehold interests in seven former Copeland's Sports retail store locations.

Sports Authority launched new store brand "S.A. Elite" in mid-2010, based on consumer research and testing.