Sport Chalet down $1 million after warm, dry winter

An unseasonably warm and dry winter put a crimp in Sport Chalet’s third-quarter results, as the firm reported Wednesday it’s comparable store sales decreased by 2%, leading to a net loss of $1 million. During the same quarter last year, the company showed a net loss of $900,000.

Craig Levra, chairman and chief executive, said in a statement that the drop in sales during the most recent quarter was a result of this year’s unusually warm winter weather, which led to limited snowfalls at the ski and snow resorts frequented by Sport Chalet’s customers.

“After three consecutive quarters of positive and sequential improvements in our comparable store sales, the unseasonably warm and dry winter weather we experienced in the third quarter impacted this,” he said. “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.”

The losses were partially offset by a 6.6% increase in comparable store sales of non-winter merchandise and an overall increase in online sales of 14.5%. While online sales of winter merchandise decreased 13%, other online sales increased by 30.9%.

Sport Chalet’s results in the nine-month period ending Jan. 1, 2012 saw a net loss of $1.3 million, compared to a net loss of $3.3 million during the same period a year ago. In the same period, the company had a 1.4% increase in net sales, thanks to an increase in comparable store sales of 1% and an online sales increase of 26.1%.

 -- Daniel Siegal, Times Community News

Twitter: @ValleySunDan

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