K mart Acquires Sporting Goods Chain

K mart Corp. announced that it has acquired the Sports Authority of Ft. Lauderdale for an undisclosed amount of cash.

The Sports Authority operates a chain of eight large stores offering brand-name apparel and sporting goods. It will operate as a separate subsidiary of K mart.

Last year, K mart opened two Sports Giant sporting goods stores in the Detroit area. Those stores will be converted into Sports Authority stores this year.