Sport Chalet, the SoCal-based retailer that has built a business out a strong commitment to SnowSports, Outdoor, SCUBA, and other performance sports, has made the move to capture more of the team sports business. The retailer has acquired Bassco Sporting Goods, a team dealer based in Van Nuys, CA.
Bassco, which was founded in 1985 by Ben Bass, operates one retail store and travels a number of road salesmen covering the Southern California market. Sport Chalet was mum on any plans for the expansion of the business.
Craig Levra, chairman and CEO of Sport Chalet, did tell SEW that one of the attractions for the deal was Basscos full screen printing and shipping operation at their Van Nuys headquarters. He said that will eliminate Sport Chalets need to outsource that function in the future. Mr. Bass has been appointed Director of Team Sales and will be responsible for both in-store and field team sales efforts.
Sport Chalet continued its positive momentum in the fiscal first quarter ended June 30, posting net income of $245,000, or three cents per diluted share, versus a loss of $593,000, or nine cents per diluted share, in the first quarter last year. Gross margin improved 110 basis points for the period to 28.8% of sales.
Fiscal first quarter net sales increased 15.4% to $61.5 million from $53.3 million in the year-ago period. The increase was said to be the result of opening three new stores in late Fall 2003 and a 6.1% increase in same-store sales.
Inventories at quarter-end increased 8.4% to $64.5 million versus quarter-end last year, but were down 2.1% on a average per store basis.
