Sport Chalet Warns of Disappointing Profit
Sport Chalet Inc. said earnings will miss analyst expectations for its fiscal fourth quarter, primarily because unseasonably warm and dry weather has dampened demand for snowboards, skis and other winter goods at its stores.
Total sales during January and February were down 1.1% from the year-ago period, and sales at stores open at least a year plunged 8.8%, it said. Excluding winter goods, same-store sales were up 4.1% in the two-month period.
Analysts were expecting La Canada-based Sport Chalet to post earnings of 15 cents a share for the quarter. The company said it could not give an earnings forecast because it expects sales to fluctuate for the rest of the quarter.
Sport Chalet shares closed up 3 cents at $10.13 on Nasdaq, before the news was announced.
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