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SPORTS AUTHORITY SHARES DROP ON NEWS OF FLAT SALES
Published September 14, 1995
The Sports Authority's Senior VP & CFO Richard Lynch said yesterday that they project flat sales for the third quarter at TSA's stores that have been open at least a year. Shares of TSA slid 12% on the news. The "measure, known as same-store sales, is a common indicator of retail activity," and Lynch said flat sales are the result of a "generally weak retail environment and a weak market for hunting and fishing products" (DOW JONES NEWS, 9/14).