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Hat World to acquire Sports Avenue stores

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Locally based Hat World has agreed to acquire the assets of Sports Avenue, an Illinois-based competitor that operates 46 retail stores and 13 branded e-commerce sites—including The Purdue Shop and ThePurdueShop.com.
 
Terms of the deal, announced Wednesday, were not disclosed. The transaction is expected to close in Genesco's second fiscal quarter.

Sports Avenue sells licensed sports apparel and accessories, both under its own name and through team-affiliated sites. Founded in 1986, the company posted revenue of about $42 million last year.

The acquisition comes six months after Hat World said it would buy 37-store athletic retail chain Sports Fan-Attic Inc. for an undisclosed amount. The subsidiary of Nashville, Tenn.-based Genesco Inc. also acquired Impact Sports Inc. and Great Plains Sports, two firms that make and market team uniforms and apparel.

Hat World was founded in 1995 in Indianapolis and acquired its largest competitor, Lids Corp., in 2001. Retail giant Genesco paid $175 million for the company in 2004, and it has continued to grow under the publicly traded company. Today it operates more than 850 locations across the country.

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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