Sport Chalet narrows Q3 loss
Sport Chalet (Nasdaq: SPCHA and SPCHB) said its same-store sales for the third quarter dropped 10.8 percent and were hurt by “macro-economic weakness” in Southern California.
Sales decreased 8.9 percent to $95.3 million from $104.6 million for the same period last year.
The company also narrowed its quarterly loss to $3.8 million, or $0.27 per diluted share, versus a loss of $32.4 million, or $2.29 per diluted share, last year.
Gross profit as a percent of sales increased to 25.2 percent compared to 22.3 percent for the third quarter of last year. Selling, general and administrative expenses as a percent of sales decreased to 23.1 percent from 27.8 percent in the same period last year.
Costco same-store sales rise in January
Costco (Nasdaq: COST) said same-store sales for January climbed 8 percent boosted by higher gasoline prices and a softer dollar.
Costco recorded strong business overseas, with sales at stores open at least a year rising 25 percent for the four weeks ended Jan. 31. In the U.S., sales at stores open at least a year climbed 4 percent.
Removing the impact of higher gasoline prices and the weaker dollar, Costco's key sales figure rose 2 percent for the month with flat sales at U.S. stores that were open at least a year. Internationally, sales at stores open at least a year rose 9 percent.
January's total net sales increased 10 percent to $5.62 billion from $5.09 billion.
--Compiled by Wendy Geister
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