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HERMAN'S SPORTING GOODS ANNOUNCES PLAN TO BUILD MEGA-STORE
Published November 17, 1994
Herman's Sporting Goods announced yesterday that it has signed a letter of intent to open a 50,000-square-foot sports emporium at the Chelsea Piers Sports and Entertainment Complex on New York's Hudson River Waterfront. Called "We Are Sports By Herman's," the new sports emporium is expected to open in late 1995. The store will have a design resembling a stadium, with graduated levels of selling floors surrounding the main amphitheater. Herman's CEO Alfred Fasola said that the new emporium will generate a first-year revenue of $15M: "The new store will be one more example of Herman's dominance in the sporting goods retail in the Northeastern United States" (Herman's). Herman's will spend $5M to construct the store "to match the imagination of the sports enthusiast's wildest dreams." The store will include two separate 4,000 square foot specialty stores featuring Nike and Reebok products, as well as a 1,500 square-foot Speedo store. It will also have a travel agency offering "adventure trips," and a box office to sell tickets to sporting events. The redevelopment of the Piers also includes building an an ice rink and an in-line skating rink. Among the leaders in the redevelopment effort are Roland Betts and Tom Burnstein, two of the Texas Rangers' five principal owners (Judith Evans, N.Y. NEWSDAY, 11/17). NOT TO BE OUTDONE: Sports Authority "makes its long-awaited debut" in New York with a store opening across from Madison Square Garden. Sports Authority officials "claim the timing of the Herman's announcement was deliberate" to offset any publicity Sports Authority would get for its first NYC store. But Fasola "coyly insists it was a coincidence" (Jonathan Auerbach, N.Y. POST, 11/17).