Christy Sports Strategically Exits New Mexico Region


(MENAFN- GlobeNewsWire - Nasdaq) New Mexico Locations Will Close at End of 23/24 Winter Season

LAKEWOOD, Colo., April 04, 2024 (GLOBE NEWSWIRE) -- Christy Sports , the premier outdoor rental and retail service provider, today announced the closure of all locations in New Mexico, effective upon the conclusion of the 23/24 winter ski season. Christy Sports currently operates six total stores in New Mexico, including four locations in Taos Ski Valley under the banners of Cottam's, Alpine Xtreme and Bootdoctor's, one location in downtown Taos under Cottam's and one seasonal location in Santa Fe under Cottam's.

The Company made the decision to exit New Mexico to prioritize investment in more profitable regions to best serve its guests and employees. Opening and closing stores based on business performance is a natural and expected part of running a successful business. Christy Sports opened new stores this winter in Aspen and Telluride, Colorado where market conditions are more favorable for expansion.

“Christy Sports is focused on making decisions that are in the best interest of our overall company,” stated Pete LaBore, Chief Executive Officer at Christy Sports.“We have loved serving guests in New Mexico the last five years. Unfortunately, we made the difficult decision to leave based solely on financial performance at no fault of the passion and effort of our employees and teams.”

Christy Sports acquired the majority of its New Mexico locations in late 2018 through an acquisition from the Cottam's family. The two companies shared core values to provide quality products and exceptional customer service which remained consistent during the Christy Sports ownership tenure.

“We have been so proud to continue the legacy established by these stores in service of the guests living in and visiting Taos and Santa Fe the last five years.” stated Dan Fox, Chief Operations Officer of Stores.“We have made incredible friendships with the staff and will be supporting our employees through this transition.”

Christy Sports will be transitioning its seasonal staff as typical, in accordance with the end of winter season. As part of the New Mexico store closure process the Company will also help all full-time staff explore opportunities at other Christy Sports locations.

Bootdoctor's remaining location in Telluride, Colorado will continue normal operations serving guests in that market.

Christy Sports is actively in talks with interested parties in the New Mexico market about selling the locations that are set to close. No further details are available at this time.

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ABOUT CHRISTY SPORTS
At Christy Sports, we help people #stepoutside - outside the predictable and expected walls of their comfort zone, and into a never-ending journey of progression. Driven by our unmatched passion for the outdoors, we are always advancing and creating new opportunities for even more people to #stepoutside. In-store and online, within our industry, and within the communities we serve, we bring a spirit of innovation to every aspect of what we do. We were founded in Colorado in 1958, but we've been chasing adventure for much longer. Skiing and snowboarding, and the outdoors aren't just a job for us, it's a lifestyle. No matter your level, we strive to give you the best experience possible and invite you to #stepoutside with us. Because when we step outside together, we step forward.

Headquartered in Lakewood, Colorado, Christy Sports is one of the leading outdoor specialty retail and rental operators in the nation with more than 50 locations in Colorado, Utah, Washington, and Montana. In addition to offering a broad selection of retail merchandise in its stores and e-commerce sites, Christy Sports is a leading provider of Rental and Equipment Services. During the spring and summer seasons, the Company operates highly professional outdoor businesses including Patio Furniture, Hiking, Cycling, Watersports, and Tennis to further inspire and enable Christy Sports guests' healthy lifestyles, and to leverage its operational infrastructure and passionate employee base.


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