Sport Chalet Fiscal Q3 Net Income Up 18% on 2.9% Comp Gain

Sport Chalet, Inc. reported that sales for the fiscal third quarter ended December 31, 2003 increased from $72.3 million last year to $79.7 million this year, a 10.3% increase. The increase is the result of opening five new stores since November 2002, as well as a same store sales
increase of 2.9%.

Gross profit margin increased from 31.3% for the quarter ended December 31, 2002 to 32.6% for the same period this year, as improving inventory purchase controls allowed management to reduce low margin sales promotions. Selling, general and administrative expenses, as a percentage of
sales, increased from 25.3% for the three months ended December 31, 2002, to 26.1% for the same period this year, primarily a result of an increase in reserves for workers' compensation claims required by changing historical
trends for past claims.

Increased sales at higher profit margins improved net income 18% from $2.6 million, or $0.38 per diluted share, in the third quarter last year to $3.1 million, or $0.44 per diluted share, for the same period this year.

During the nine months ended December 31, 2003, sales increased from
$179.8 million last year to $194.8 million this year, an 8.4% increase. The
increase is the result of opening five new stores since November 2002, as well
as a same store sales increase of 1.7%. Gross profit margin increased from
29.6% for the nine months ended December 31, 2002, to 30.4% for the same
period this year due to lower markdowns as a result of the Company's focus on
improved inventory procurement and administration. Selling, general and
administrative expenses, as a percentage of sales, increased from 25.7% for
the nine months ended December 31, 2002, to 26.7% for the same period this
year as a result of the write-off of undepreciated assets from two large-scale
store remodels in the first quarter and an increase in reserves for workers'
compensation claims. Net income increased from $4.1 million, or $0.59 per
diluted share, for the nine months ended December 31, 2002, to $4.2 million,
or $0.61 per diluted share, for the same period this year.

The Company plans on opening five new stores during 2004. The continued
expansion into Northern California includes Roseville and Elk Grove in the
Sacramento area, along with Pleasanton and Visalia. In addition the Company
will open a store in the Santa Anita mall in the city of Arcadia within its
Southern California market.

Commenting on the results, Craig Levra, Chairman and CEO said, “I'm proud
of our employees who worked very hard to get three stores opened during
November and December while maintaining the standards our customers have come
to expect.” Mr. Levra continued, “Our improvements in systems and logistics
are beginning to pay off and with continued expansion we will further leverage
these investments.”

                              SPORT CHALET, INC.

               CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (UNAUDITED)

                              Three months ended       Nine Months Ended
                                 December 31,            December 31,
                             2003         2002        2003          2002

    Net sales            $79,704,678  $72,271,486  $194,832,656  $179,803,490
    Cost of goods sold,
     buying and
     occupancy            53,743,477   49,627,384   135,585,117   126,592,231
    Gross profit          25,961,201   22,644,102    59,247,539    53,211,259
    Selling, general and
     administrative
     expenses             20,807,415   18,292,489    52,109,629    46,232,790

    Income from
     operations            5,153,786    4,351,613     7,137,910     6,978,469
    Interest expense          72,314      147,858       162,070       272,385
    Income before taxes    5,081,472    4,203,755     6,975,840     6,706,084
    Income tax provision   1,997,000    1,598,000     2,757,000     2,599,000

    Net income            $3,084,472   $2,605,755    $4,218,840    $4,107,084

    Earnings per share:
      Basic                    $0.46        $0.39         $0.64         $0.62
      Diluted                  $0.44        $0.38         $0.61         $0.59