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Sports Authority posts $469.1 million operating loss for April period
By Sheri Kasprzak
New York, May 27 – Sports Authority Holdings, Inc. reported a $469.1 million operating loss between April 3 and April 30 on $183.9 million in net sales, according to its monthly operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.
The loss expanded from $6.7 million on $238.5 million in net sales between March 2 and April 2.
The net loss for the April period was $413.6 million, expanding from $12 million between March 2 and April 2.
The company had $42 million in cash and cash equivalents as of April 30, down from $44.8 million on April 2.
Sports Authority, based in Englewood, Colo., is a sporting goods retailer. It filed for bankruptcy on March 2. Its Chapter 11 case number is 16-10527.
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