AUTHORITY ALWAYS WINS? SOME ANALYSTS DOUBT HANAKA'S IMPACT

          The "four biggest publicly held" full-line sporting
     goods retailers "are all losing money," according to Ann
     Wozencraft of the N.Y. TIMES.  Wozencraft cites sources as
     saying that "even a perfectly run" The Sports Authority
     (TSA), the industry leader in sales, "may not be able to
     thrive for long" because of the industry's "inherent
     limitations."  Wozencraft wrote that there is "very little
     cross-participation in sports," as a recent survey found
     that only 14% of golfers hunt, 7% of campers play tennis and
     5% of basketball players play racquetball.  Paine Webber
     analyst Aram Rubinson said the "synergy of carrying all
     these products under one roof is not great.  It's not as if
     you walk in for a tennis racquet and walk out with a bowling
     ball."  But TSA CEO Martin Hanaka said that "traffic" in his
     stores will "rise if the shopping experience becomes more
     appealing" and that he "wants to tone down" TSA's "emphasis
     on men" in order "to aim more at women and children, the
     sector's strongest growth categories" (N.Y. TIMES, 11/28).