Sponsors
Billabong ▲ +0.025 | PPR ▲ +4.25 | American Apparel ▼ -0.002 | The Buckle ▼ -0.22 | Columbia ▲ +0.14 | Deckers Outdoor ▼ -1.05 | Dicks ▲ +0.73 | Foot Locker ▼ -2.31 | Genesco ▲ +0.96 | Iconix Brand Group ▲ +0.22 | Jarden Corp ▼ -0.09 | Nordstrom ▲ +0.15 | Luxottica ▲ +0.85 | Nike ▼ -0.29 | Pacific Sunwear ▲ +0.09 | Skullcandy ▲ +0.09 | Sport Chalet - 0 | Urban Outfitters ▼ -0.26 | VF Corp ▲ +0.29 | Quiksilver ▲ +0.02 | Zumiez ▲ +0.66 | Macys ▲ +0.41 | Tillys ▲ +0.08 |
Ticker Sponsor
Professional Services
Friedman Stroffe & Gerard, P.C.

FSG’s Action Sports Practice Group provides legal services to the action sports industry. Our clients include surfers, skiers, snowboarders and skaters, as well as sponsors and leading apparel companies. Our attorneys serve in positions with industry organizations such as the Association of Surfing Professionals. We know your business and can provide full-service legal solutions to meet your organizational needs.

More Professional Services...
Readers Say
Useful on a daily basis
Useful on a daily basis

It's well balanced information that is useful on a daily basis. I'm very satisfied with the Executive Edition. I start each day with SES and a big cup of coffee!

- By Tom Ruiz, EVP Sales, Volcom
Executive Edition rules
Executive Edition rules

“Shop-Eat-Surf” is now officially, the first stop in the morning for industry news. Accurate reporting, no sensationalism, and just the facts. Refreshing support to an incredible industry with a very bright future. Tiffany has cemented her role in the industry....the site is thought provoking, and inspirational. Learning the stories of others is incredibly useful. Great way to connect the retail community with the wholesale and financial, instantly and nationwide. ... And the Executive Edition rules.

- By Bob Hurley, Chairman, Hurley International
Industry Insight

SIA SNOW SHOW: New "Industry + Intelligence" seminar on January 28.
FSG LAWYERS: Represented Brixton in recent transaction with Altamont Capital.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

Sport Chalet narrows loss, says other stores discounts hurt sales

By Tiffany Montgomery
February 08, 2010 7:00 AM

I’m catching up on Sport Chalet’s earnings for the quarter ended Dec. 27 that were released during ASR.

The important industry retailer narrowed its net loss to $3.8 million vs. $32.4 million for the quarter.

Sales fell 8.9 percent to $95.3 million.

Same-store sales declined 10.8%.

The company said same-store sales were impacted by the weak macro economic environment and competitors’ promotional activity.

While Sport Chalet did not name Dick’s Sporting Goods, I am guessing that is what they are referring to since Dick’s ran several very aggressive promotions during the holidays that other retailers have complained about. Sport Chalet said promotions from other stores hurt same store sales an estimated 0.7 percent.

Sport Chalet, which faced a very dire financial situation during the downturn, said it is meeting its bank covenants. For the first nine months of its fiscal year, Sport Chalet EBITDA totaled $6.2 million vs. the $5.6 million required in the covenants.

Gross profit during the quarter improved to 25.2 percent vs. 22.3 percent during the same period last year.

The company recorded a $10.9 million non-cash charge related to the performance of certain stores and received a $9.1 million tax benefit.

Sport Chalet operates 55 stores in California, Nevada, Arizona and Utah.

 

 

 

 


Articles You Might Have Missed