SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report SEPTEMBER 15, 1998
THE SPORTS AUTHORITY, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-13426 36-3511120
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
3383 N. State Road 7, Ft. Lauderdale, Florida 33319
(Address of principal executive offices) (Zip Code)
(954) 735-1701
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On September 15, 1998, the Company's Board of Directors elected Martin
E. Hanaka, Vice Chairman, as the company's Chief Executive Officer. The news
release announcing the election is attached hereto as an exhibit.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) The following exhibits are filed with this report:
99.1 News Release, dated September 15, 1998.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE SPORTS AUTHORITY, INC.
Date: September 15, 1998 By: /S/ ANTHONY F. CRUDELE
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Anthony F. Crudele
Senior Vice President and
Chief Financial Officer
(Principal Financial and
Accounting Officer)
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EXHIBIT INDEX
EXHIBIT
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99.1 News Release dated September 15, 1998.
EXHIBIT 99.1
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THE
SPORTS
AUTHORITY
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September 15, 1998
FOR IMMEDIATE RELEASE
CONTACT: THE SPORTS AUTHORITY, INC. Alexander L. Stanton
Martin E. Hanaka Vice President of Strategic Planning
Chief Executive Officer & Treasurer
(954) 677-6230 (954) 677-6003
THE SPORTS AUTHORITY APPOINTS MARTIN E. HANAKA AS CHIEF EXECUTIVE OFFICER
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Fort Lauderdale, Florida, September 15, 1998-- The Sports Authority, Inc.
(NYSE:TSA), the world's largest full-line sporting goods retailer, today
announced that Martin E. Hanaka, Vice-Chairman, has been elected Chief Executive
Officer of the Company. Jack Smith, the Company's founder and previous Chief
Executive Officer, has decided to step down from his executive role. Mr. Smith
will continue his role as Chairman of the Board for the Company, and will remain
active in the industry through his position as Chairman of the National Sporting
Goods Association.
Mr. Hanaka joined the Company in February, after an extensive 25-year retail
career focused on superior customer service and significant earnings growth in
all his endeavors. Most recently Mr. Hanaka served as the President & Chief
Operating Officer of Staples, Inc., leading the office supply superstore chain
to a compounded annual growth rate of 41% in sales and 51% in earnings per share
during his tenure. Additionally, his career has included serving as President &
Chief Operating Officer of Lechmere, Inc. and holding a variety of senior
executive positions with Sears Roebuck & Co.
Commenting on the appointment, Chairman Jack Smith stated, "I am pleased that
the daily leadership of the Company I founded more than ten years ago will be in
very capable hands. I have always said that we have the strongest management
team in our industry; Marty's background and experience in a high growth
environment will only enhance this team and position The Sports Authority for
future growth and continued industry leadership."
Martin Hanaka commented, "Jack spent the last decade building the Company to its
position as the world's largest full-line sporting goods retailer, and I am
excited about the opportunity to lead it into the next decade. After working
with the Company over the past six months, I am confident that The Sports
Authority will continue to be the leader in the sporting goods industry, and
will ultimately be one of the elite specialty retailers in terms of growth and
value."
The Sports Authority operates 214 full line sporting goods superstores; 198
stores in 32 states across the United States, six in Canada, and ten in Japan
under its joint venture agreement with JUSCO Co., Ltd.
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements which reflect
management's current views of future events and financial performance. These
forward-looking statements are based on many assumptions and factors which
involve risks and uncertainties that could cause actual results to differ
materially. These risks and uncertainties are disclosed in the Company's Form
10-K for 1997.
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3383 North State Road 7 * Fort Lauderdale, Florida 33319 * 954-735-1701
