Related Links

Sports memorabilia is designed to remind fans of the good times, but in the current recession, one store owner says his languishing inventory is a sign of hard times.

CPS Sports & Coins, a store that has been in the Loop since 1973, is struggling with both the recession and a physical move that reduced walk-in traffic. While internet sales have remained constant, in-store sales were down about 20 percent in 2008 compared with 2007, according to Ned Fishkin, the store’s director.

“Our numbers are down because we moved, and down because of the economy,” said Fishkin. “You call up a customer and say, ‘I have such-and-such an item for you,’ they say, ‘I’m not buying anything this month, maybe next month.’”

The segment of Fishkin’s business that has seen the largest drop in sales is that of items priced between $500 and $1,000.

Fishkin understands that his merchandise is not cash-strapped customers’ first priority. “This is a non-essential item,” he said. “Sports, stamps and coins are not essential when you have to pay the bills.”

A move from a location inside the Carson Pirie Scott department store at Monroe and Wabash to the Jewelry Center at 5 S. Wabash has decreased foot traffic. In 2007, when the department store was closed for renovations, Fishkin wanted to stay in the Loop so that he could hang onto loyal long-time customers. Since the business is no longer in a department store, foot traffic is down, but regulars still come.

The internet, especially eBay, is also picking up the slack.

The store has had a Web site since 1999, but internet sales have become a big part of the business over the past four to five years. Now, CPS Sports & Coins does about half of its business online. eBay offers the store a place to offload inventory that is either esoteric or has been sitting in the small showroom for a long time.

“We probably do 50 percent of our business on the internet, whether it’s buying for stock or selling material that doesn’t move here in the store,” Fishkin said. “It gives you a tremendous worldwide showcase. We ship all over the world.”

The store has almost 3,000 items for sale online, including more than 1,000 pieces of sports memorabilia. The merchandise online ranges from a signed Michael Jordan jersey for $950 to a variety of signed baseballs all the way down to a Bowman rookie card of White Sox third baseman Josh Fields for $1.99.

The reason for the extensive online inventory, Fishkin said, is that because the more material he offers on the Web, the better his sales results. The internet is also a source of inventory for him, though Fishkin said it will never replace suppliers that can get him items in a day.

Another big help for CPS Sports & Coins is that when times are hard, fearful customers may not buy sports memorabilia, but they do buy rare coins. The coins are important because they are one of a few luxury items that sell well during a recession, when their value tends to outpace inflation. Fishkin has been having trouble keeping the coins in stock.

“Coins are selling very, very well. It is difficult to get enough inventory to keep your customers happy,” Fishkin said. “So I am always shopping and always out buying.”

And then there’s that final antidote for the recession blues -- winning. The playoff runs of the Chicago Cubs and White Sox helped drive sales during baseball season. Now, the Chicago Blackhawks, with an exciting young team, have 64 points and are tied for third in the National Hockey League’s Western Conference. That has fans calling looking for merchandise of young Chicago stars like Jonathan Toews and Patrick Kane.

CPS Sports & Memorabilia isn’t alone in benefiting from the Blackhawks’ surge in popularity. The team has also spurred sales at Grandstand Limited, which is located on the city’s South Side by U.S. Cellular Field. “Sales have been about average this year,” said Stephanie Ganal, the store’s manager. “The play of the Blackhawks has helped. It’s been fairly busy.”

Those factors make Fishkin hopeful that he can ride out the recession and make his new home in the Loop one of Chicago’s premiere destinations for sports fans and collectors.