Oshman's Sporting Goods

Oshman's Sporting Goods Inc. was a sporting goods retailer in the United States. Their headquarters were in East End, Houston, Texas.[1][2] It operated traditional sporting goods stores and Oshman's Supersports USA megastores.

History

In 1919,[3] J.S. "Jake" Oshman, an immigrant from Latvia,[4] opened a store, Oshman's Dry Goods, in Richmond, Texas. In 1930 he moved to Houston by buying the stock of a bankrupted dry goods store in that city. While he liquidated the inventory of the Richmond store, he observed that sporting goods were the fastest selling items. In 1931 he opened the first Oshman's Sporting Goods location,[3] in what is now Downtown Houston. As business increased, the store moved to a larger location in what is now Downtown, and a second store opened in what is now Downtown. Oshman's opened locations in suburban shopping centers in Greater Houston and then in Bay City, Beaumont, Corpus Christi, and Pasadena.[4] The company Oshman's Sporting Goods, Inc. incorporated in 1946.[1]

Oshman died in 1965. By that year Oshman's was Texas's largest sporting goods chain,[3] and it was the largest sporting goods chain in the southwestern United States. At that time the company had ten sporting goods stores and two wholesale firms located in the Gulf Coast region.[4]

In the 1970s Oshman's was expanding in the Los Angeles area.[5]

In 1978 Oshman's purchased the rights to the trade name of Abercrombie and Fitch from First National Bank of Chicago for $1.5 million[6] ($5.2 million in 2013 dollars).[7] As of October 31, 1987 the company operated 185 traditional stores, one Super Sports USA store, and 27 Abercrombie and Fitch stores. Around December 25 that year it stopped its proposed $50 million sale (of which $20 million could be in banknotes) of the stores to an investor group in New Jersey.[8]

By the mid-1980s the chain had over 200 stores in the U.S. Sun Belt.[3]

In 1993 the company stated that it planned to close 33 stores.[9]

In 2001 Gart Sports Company announced that it would buy Oshman's for a combination of cash and stock valued around $82 million.[10] In June of that year it merged into GSC Acquisition Corp., a wholly owned subsidiary of Gart.[1] Today many of Oshman's stores are now Sports Authority.

Corporate affairs

In 1991 the company stated that it would consolidate the offices of its California and Texas divisions into its headquarters in Houston. The company said that the competitive conditions of the retailing industry and the slowing economy prompted its move.[11]

References

  1. ↑ 1.0 1.1 1.2 "Oshman's Sporting Goods." Bloomberg Businessweek. Retrieved on September 14, 2011. "2302 Maxwell Lane Houston, TX 77023 United States"
  2. ↑ Steinhauer, Jennifer. "Sporting Goods Retailers Start to Consider New Lineups." The New York Times. June 12, 1997. 1. Retrieved on September 14, 2011.
  3. ↑ 3.0 3.1 3.2 3.3 "About Us." Oshman's Sporting Goods. February 1, 2003. Retrieved on September 15, 2011.
  4. ↑ 4.0 4.1 4.2 "Founder of Oshman's Chain Dies." Houston Post. Saturday May 1, 1965. Section 1, Page 1, continued on Section 1, Page 3. Available via microfilm from the Houston Public Library Central Library Jesse H. Jones Building.
  5. ↑ "Oshman's to Build Stores." Los Angeles Times. July 4, 1974. N6. Retrieved on September 14, 2011. "In keeping with its expansion plans for the Los Angeles area, Oshman's Sporting Goods has announced two more stores scheduled to open this fall"
  6. ↑ "Why Abercrombie Is Losing Its Shirt". New York. Retrieved February 12, 2014.
  7. ↑ http://www.bls.gov/data/inflation_calculator.htm BLS Inflation Calculator
  8. ↑ Benedict, Daniel. "A&F sale called off/Oshman's dislikes group's proposal." Houston Chronicle. Friday December 25, 1987. Business 1. Retrieved on September 14, 2011.
  9. ↑ "Oshman's plans to close 33 stores, take pretax charge of $15 million." The Dallas Morning News. December 28. 1993. Retrieved on September 14, 2011.
  10. ↑ Pate, Kelly. "Gart Sports to acquire Oshman's Combination could create nation's most profitable sporting-goods firm Article 1 of 1 found." The Denver Post. February 23, 2001. C1. Retrieved on September 14, 2011.
  11. ↑ "Briefly Oshman's plans to consolidate headquarters HOUSTON." San Antonio Express-News. January 31, 1991. Retrieved on September 14, 2011.

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