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Sport Chalet shows signs of improvement
Sport Chalet CEO Craig Levra
By TIFFANY MONTGOMERY
November 09, 2011 01:23 PM
November 09, 2011 01:23 PM
Industry customer Sport Chalet continues to show signs of improvement and posted a profit for its second quarter ended Oct. 2.
The retailer said this afternoon that same store sales increased 3.1% in the quarter, while total sales declined 0.9% to $88 million. Sport Chalet said the net sales decline was due to a calendar shift.
Online sales rose 18%.
Net income reached $0.6 million compared with a loss of $0.5 million in the same period last year.
Gross margin improved to 29.2% vs. 28.2% due to a decrease in markdowns.
The company said it had used $43.6 million of its $59.9 million credit facility, leaving Sport Chalet with $16.3 million in availability.
Sport Chalet operates 54 stores.
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