Sport Chalet same-store sales slip, but foresees profit for 2013

Outdoor and fitness retailer Sport Chalet reported its same-store sales down 5.3 percent for its latest quarter, ending April 1, 2012, as the retailer struggled with the lingering effects of an unseasonably warm and dry winter weather.
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Outdoor and fitness retailer Sport Chalet (Nasdaq: SPCHA) reported its same-store sales down 5.3 percent for its latest quarter, ending April 1, 2012, as the retailer struggled with the lingering effects of an unseasonably warm and dry winter weather.

Overall sales decreased 16.6 percent to $81.9 million in the latest quarter, versus a year ago, and Sport Chalet’s net loss came in at $3.8 million, versus a profit of $300,000 a year ago.

Officials said the sales decrease was primarily due to one less week in the quarter, when compared to last year. They also placed blame on the weak finish to winter, noting that minus the winter categories, same-store sales rose 2.6 percent for the quarter.

Despite the negative results, officials sounded an upbeat note for the future, projecting a return to profitability in the year ahead.

“Our comparable store sales increased 2.8 percent for the nine weeks ended June 3, 2012 and with a more normal winter, we believe the consistent improvements we have made to our business over the past few years have positioned us to return to profitability for fiscal 2013,” Sport Chalet CEO Craig Levra told investors in the June 4 earnings report.

Sport Chalet also announced plans to open a new store in downtown Los Angeles in May 2013 at the intersection of Figueroa and 7th streets. It currently has 54 stores in California, Arizona, Nevada and Utah.

--David Clucas

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