Sport Chalet, Inc. reported a 23.2% increase in net income to $3.8 million, or 53 cents per diluted share, for its fiscal third quarter ended December 31, due primarily to a decrease in SG&A expenses as a percentage of sales which more than offset a slight 10 basis point dip in gross margin to 32.6% of sales. The 40 basis point improvement in SG&A was attributed to leverage associated with a 6.8% comp store sales increase for the period, coupled with reduced workers compensation expenses.
Total sales for the quarter increased 20.3% to $95.9 million from $79.7 million for the year-ago quarter, the result of the comp sales gain as well as the addition of eight new stores versus the year-ago period.
Craig Levra, Sport Chalet’s chairman and CEO, said the company expects to continue to execute its expansion plan by “focusing on Arizona this year with three stores located in Phoenix, Chandler and Scottsdale.”
>>> This just keeps looking better each quarter…
