Sport Chalet Turns a Profit, Beats ExpectationsWednesday, November 9, 2011
Sport Chalet reported a quarterly profit Wednesday, beating Wall Street estimates with higher sales both in stores and online.
The La Canada-based retailer, which has 54 stores in four western states, reported earnings for the second quarter of $600,000 or 4 cents a share, compared to a loss of $500,000 or 4 cents a share for the same quarter last year. Wall Street analysts expected earnings of 2 cents per share, according to Bloomberg.
The company also said same-store sales increased 3.1 percent and online sales increased 18 percent during the quarter.
“Our data suggests our online business is helping drive customers into our stores while establishing a national footprint online,” Chief Executive Craig Levra said in a statement.
Sport Chalet announced its results after the close of the stock markets on Wednesday. For the day, the company’s stock price declined 15 cents or 6 percent to close at $2.25 on the Nasdaq Stock Exchange.