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Mild winter affects Sport Chalet earnings

Published February 8, 2012

LOS ANGELES, CA (BRAIN) Feb 8, 18:27 MT Sport Chalet Inc. on Wednesday reported a 2 percent decrease in same-store sales and slightly deeper loss for its fiscal third quarter as unseasonable weather kept customers away from winter resorts.

Sales of winter-related merchandise plunged 21.8 percent for the three months ended Jan. 1, 2012, but this was partially offset by a 6.6 percent sales increase in non-winter categories, the company reported.

“We are working diligently to minimize the negative effects of the weather while capitalizing on the merchandise categories that respond well to warm and dry conditions,” said Craig Levra, Sport Chalet chairman and CEO.

Net sales ticked up 1.5 percent to $97.2 million, but the company’s quarterly loss expanded to $1 million from $900,000 in the comparable period a year earlier.

Online sales were a bright spot during the quarter, growing 14.5 percent on a 30.9 percent jump in web sales for non-winter categories.

Some Sports Chalet locations sell bike brands including Fuji, Marin, Electra and Masi.

Topics associated with this article: Earnings/Financial Reports

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