Dry winter leads to slow sales at Sport Chalet
A slow ski season contributed to weakening sales for La Canada Flintridge-based Sports Chalet in the most recent fiscal quarter, according to a company announcement Monday.
The sports gear retailer reported a 5% decrease in sales and a net loss of $3.8 million for the quarter. For the fiscal year, net sales fell 3.5% to $349.9 million, and the net loss for the company was $5.1 million.
In a statement, Chairman and Chief Executive Craig Levra said the results mask a successful realignment that improved same-store sales by 2.8% compared to last spring.
“The nearly unprecedented warm and dry winter weather we experienced in the third quarter continued into the fourth quarter and significantly affected our sales and profitability,” Levra said. “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.”
Sports Chalet plans to open a 27,000-square-foot store in the heart of downtown Los Angeles, at 7th and Figueroa streets, in May 2013.
--Bill Kisliuk, Times Community News
Twitter: @bkisliuk