You could argue that the sporting goods industry has been struggling since 2016 when the Sports Authority ceased to exist.
At the time, analysts noted that the space has always been competitive.
“The pressure in the sporting goods business is no different than it’s always been,” Telsey Advisory Group analyst Joseph Feldman told CBS News, adding that competition from online retailers is particularly intense.
In the years since, major regional players including Modell’s, Bob’s Stores and Olympia Sports, among others, have closed their doors.
Analysts still see opportunities in the space, but acknowledge its challenges.
“While the coming year will be marked by uncertainty, it will also offer opportunities,” McKinsey partner Alexander Thiel said in a statement to Retail Dive.
“As the global population continues to expand and more people adopt healthier and more active lifestyles, there are opportunities for brands, retailers and manufacturers to grow,” he added. “But this potential should be contrasted with the continued political and economic unpredictability that is playing out in almost every region globally.”
It’s been a challenging market, and one of the biggest players, Big 5 Sporting Goods, has been steadily closing stores.
“The sporting goods retail market is highly fragmented and highly competitive. . . . Some of our competitors have larger store counts, greater e-commerce capabilities. . . . If our competitors lower their prices, it may be difficult for us to maintain market share without lowering our prices, which could affect our margins,” Big 5 Sporting Goods said in an SEC filing.
The company does not mention Dick’s Sporting Goods and Amazon by name, but clearly addresses them in its 10-K filing Risk Factors.
“While e-commerce has been a rapidly growing sales channel and an increasing source of competition in the retail industry, sales from our e-commerce channel are not material to our operations. If we are unable to compete successfully, our operating results may suffer,” the company added.
The chain, which is in the process of going private, has quietly and steadily shrunk its retail footprint.
More 5 Great Colorado Sporting Goods Locations are closing, with some stores slated to close their doors in the coming weeks, according to 9news.com.
In the Denver area, three Big 5-specific stores (eg, on Iliff Avenue, S. Colorado Blvd. and Wheat Ridge) were reported out of business, with closing sales in progressMile High on the Cheap added.
A Big 5 store in Pocatello, Idaho is confirmed to be closing for goodshared the East Idaho News.
The big 5 in Garden City, Idaho, is also slated for closure by the end of the year, the Idaho Statesman reported.
In northern Colorado, the Big 5 in Fort Collins has announced its final days amid broader challenges for sporting goods retailers, according to K99: Northern Colorado’s New Country.
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Sporting goods stores struggled.Shutterstock
The Big 5 was gradually reducing its store footprint in recent years — in fiscal 2024, it closed more than it opened, reflecting slower sales and inflationary pressure, according to company filings with the SEC.
By mid-2025, the company was up and running approximately 414 storesdown from previous years and expected to close additional stores without opening new ones during that period. Source:SGB Online
The chain is also in the process of a takeover-private purchase by Worldwide Golf and Capitol Hill Group, which could influence the store’s future strategy and investments, according to SEC filings.
Aside from its official filings, Big 5 Sporting Goods has not commented on its financials and is no longer legally required to do so given its efforts to go private. The chain’s website, however, tells its own story.
When a retailer’s website lists their “biggest cash sale” usually, it’s not a great sign of the company’s health.
In the more than 30 years I’ve covered the retail industry, huge sell-offs typically occur when a chain faces a cash crunch, has made major mistakes in purchasing inventory, or has decided to close at least some stores.
More retail:
Having a large retail store, we used a sale once a year to clear out our warehouse. If we marked an item down more than 40%, we generally lost money on it, but sometimes it was necessary to eliminate merchandise that might never sell at full price.
Big 5 Sporting Goods did not immediately return a request for comment on its website’s contact page.
Orvis: Confirmed plans to close 31 full-price stores and five outlet locations by early 2026, reducing its footprint from more than 70 to 33 stores.
Moosejaw: After being acquired by Dick’s Sporting Goods in 2023, all remaining Moosejaw stores and website were closed by August 2024.
Bob’s Stores: This 70-year-old sporting goods chain filed for Chapter 11 bankruptcy and closed for good.
The next adventure: A Portland outdoor retailer has closed all locations at the end of 2025, citing economic challenges and owner retirement.
Released brands (Volcom, Billabong, Quiksilver): More than 100 stores nationwide are closing after the company filed for Chapter 11 bankruptcy.
Foot Locker & Champs Sports: Following the merger with Dick’s Sporting Goods, about 400 stores are expected to close by 2026, focusing on underperforming mall locations.
Outdoor equipment JAX Ames: The Iowa-based family retailer liquidated its assets and closed in late summer 2025. Source: TheStreet
Related: Iconic fast-food chain clings to life after failed bankruptcy
This story was originally published by TheStreet on January 7, 2026, where it first appeared in the Retail section. Add TheStreet as a favorite source by clicking here.
