Sport Chalet’s financial results for the second quarter of fiscal 2012 have come in and things are looking up for the La Cañada Flintridge-based sports equipment retailer, as its net income increased by $1.1 million from this time last fiscal year.
The company had a net loss of $0.5 million year ago, but after this quarter’s increase net income is at $.06 million. In addition this was Sport Chalet's its second profitable quarter in the last three, and its tenth straight quarter of sequential profitability improvement.
Another positive note was that online sales increased by 18%, leading to the gross profit margin for the online business to improve by 106%.
In a release, the company attributed this growth to a decrease in markdowns, succesful promotional efforts around Labor Day Weekend and an improvement in inventory shrinkage.
Craig Levra, Chairman and CEO, stated that the company was proud of the improved training it was giving its employees, and that the growing online sales were also driving customers into the stores, a positive omen for future improvement.
"This quarter marked our second profitable quarter in the last three quarters and we continued to experience positive trends in comparable store sales and online sales," sstated Levra. "We are excited about the considerable improvement of our results which demonstrates the effectiveness of our strategies designed to return our company to profitability."
-- Daniel Siegal, Times Community News