The closure of two stores caused Sport Chalet Inc.’s sales to drop slightly, the La Cañada Flintridge-based sporting goods chain announced this week.
Sales decreased to $81.5 million in the fiscal quarter that ended on June 30 from $83.8 million during the same period in 2012.
Earlier this year, Sport Chalet announced that it was closing two underperforming stores in Antioch, Calif., and Phoenix, Ariz. The loss of sales from those stores — $1.1 million — impacted the results for the recent quarter, the company said.
“Our first quarter sales were lower than expected, which was disappointing following the positive momentum we experienced at the end of fiscal 2013," Craig Levra, the company’s chairman and chief executive officer, said in a statement. "We are closely monitoring the uneven retail environment and will continue to respond as appropriate with promotional activities, including radio advertising and Action Pass member outreach.”
Online purchases, however, appear to grow every quarter. The company saw sales from its website rise $37.6%, according to a report.
Sport Chalet also recently expanded its credit facility with Bank of America Merrill Lynch from $65 million to $75 million. The facility will be used to finance inventory and capital expenses.