Online sales contribute to profitable third quarter for Sport ChaletWednesday, November 7, 2012
Sport Chalet Inc. reported third-quarter profit that beat Wall Street forecasts Wednesday, thanks in part to increased online sales.
The La Canada Flintridge sporting goods retailer reported net income of $800,000 (5 cents a share), compared with $600,000 (4 cents) in the same period a year earlier. Revenue increased 3.9 percent to $91.5 million.
Chief Executive Craig Levra nodded to increased online sales and customer participation in the company’s Action Pass rewards program for the positive sales numbers, during a conference call held on Wednesday. The company struggled when last winter produced little snow, slowing sales of winter sporting equipment. Levra said he is confident the company is well positioned for the upcoming winter season, regardless of weather.
“The momentum we experienced during the first (fiscal) quarter continued in the second quarter, and we believe that we are well positioned to have a profitable fiscal 2013,” he said.
The chain will open a new store in May of 2013 at the Fig at 7th shopping center located at Figueroa and 7th Streets downtown.
Shares under ticker symbol SPCHB closed up 8 cents, or less than 5 percent, to $1.90 at the end of Wednesday trading on the Nasdaq.