Sport Chalet, Inc. reported that its sales from Black Friday through Sunday Dec. 8 were up 19.9 percent over the comparable period in 2012. The Los Angeles-based retailer achieved the growth without opening on Thanksgiving Day.
SPCH reported comparable stores sales for the Black Friday weekend were up 17.1 percent compared to 2012, while Cyber Monday sales rose by 34.8 percent thanks to a near doubling of online sales. Online shopping surged 91.6 percent at sportchalet.com on Cyber Monday, when more than 36 percent of the site’s sales originated outside the four states where SPCH operates its 52 bricks-and-mortar stores: Arizona, California, Nevada and Utah.
“Consumer confidence has risen to its highest level in five months, and the weather is doing its part by giving our local ski areas a good snow base,” said Chairman and CEO Craig Levra. “While recognizing that the most significant selling weeks are ahead of us, we are hopeful this early sales momentum will continue and drive healthy sales growth over 2012 levels.”
Investors nudged up SPCH’s stock price about 11 percent to $1.19 per share after hearing the news, but stock continues to trade near a four-year and 52-week low. SPCH announced in September that it had hired Cappello Capital Corp. to explore strategic alternatives, including finding investors or joint venture partners that could help it accelerate its strategic plan, which includes rolling out a new store concept that debuted in Los Angeles in July.
