Los Angeles -- Sporting goods retailer Sport Chalet generated a loss of $2.8 million in the first quarter, compared with a profit of $100,000 in the year-ago period.
Sales slipped 2.8% to $81.5 million from $83.8 million, and same-store sales fell 0.7%.
The company has publicized its turnaround efforts, including the opening of its next-generation store concept (at shopping center FIGat7th in downtown Los Angeles) that cuts the standard 42,000-sq.-ft. footprint to a trim 27,000 sq. ft. and showcases mobile technology for in-store shopping, data-driven customization of product mix to reflect local customers' needs, and improved inventory management.
The retailer has also closed under-performing stores and reduced staff.
"We are making solid headway in implementing our recently announced strategic initiatives,” said Craig Levra, CEO. “We have added new drop ship vendors to our online store and are adding mobile devices in stores to give customers access to the broadest selection of merchandise and the most seamless shopping experience across all of our channels. With our expanded, five-year $75.0 million credit facility, we have ample resources to execute our plan.”