Sport Chalet narrows Q4 loss
Fourth-quarter sales for Sport Chalet (Nasdaq: SPCHA and SPCHB) rose nearly 7 percent, driven by favorable winter weather in most of its markets and improved inventory position from increased order fulfillment by vendors.
For the quarter ended March 28, sales increased 6.8 percent to $90.2 million for the fourth quarter of fiscal 2010, up from $84.5 million for the fourth quarter of fiscal 2009.
Same-store sales were up 5.7 percent.
Gross profit as a percent of sales increased to 27.7 percent, compared to 19.8 percent for the fourth quarter of last year.
Net loss for the quarter was reduced to $0.3 million, or $0.02 per diluted share, compared to a net loss of $11.1 million, or $0.79 per diluted share, last year.
For the fiscal year, sales decreased 5.1 percent to $353.7 million from $372.7 million for the previous year. Same-store sales dropped 8.4 percent.
Net loss for the year was $8.3 million, or $0.59 per diluted share, compared to a net loss of $52.2 million or $3.70 per diluted share, the year before.
Excluding the non-cash impairment charges and the effect of income taxes, the company said net loss for fiscal 2010 was reduced to $6.5 million, or $0.46 per diluted share, compared to net loss of $35.7 million, or $2.53 per diluted share, for fiscal 2009.
Deckers’ board approves stock split
Deckers Outdoor (Nasdaq: DECK), parent of Teva, Ugg, Simple and Ahnu, said its board approved a 3-for-1 stock split in the form of a common stock dividend.
Deckers said that shareholders of record on June 17 would get two additional shares of the company’s stock, which would be distributed on July 2.
“The additional outstanding shares will provide increased liquidity in the market and make our common shares more attractive to a broader range of investors,” said CEO Angel Martinez in a statement.
Backcountry.com parent offer for notes expires
Liberty Media, parent of Backcountry.com, said its cash offer for up to $400 million in notes expired with more than enough shares tendered.
The offer covered 5.7 percent senior notes due in 2013.
Liberty (Nasdaq: LCAPA, LINTA) said $520.4 million in notes were tendered and not withdrawn, and the company agreed to buy $410 million worth, including an additional 2 percent of notes that the company said it was allowed to buy without changing or extending its offer.
The company will buy about 51 percent of the outstanding notes by value.
Collective Brands’ Q1 net income up 43 percent
Collective Brands (NYSE: PSS), parent of Saucony and Hind, said its fiscal first-quarter revenue rose less than 2 percent, even though its net income rose 43 percent.
The company said it earned $54.2 million for the quarter that ended May 1, or $0.83 per share. That compares with $38 million, or $0.59 per share, in the period a year earlier.
Revenue rose 1.8 percent to $878.8 million, up from $862.9 million last year.
The company’s international revenue rose 23 percent, but its revenue in stores open at least a year fell 1.2 percent.
Rocky Brands receives new military boot order
Rocky Brands (Nasdaq: RCKY) said the U.S. General Services Administration has expanded its boot order with the company.
The company said the additional order for roughly 45,000 pairs of insulated boots is valued at $3.2 million, and 8,000 pairs of boots for hot weather valued at $500,000 are under an existing $29 million blanket purchase agreement with the GSA.
The boots will be made at Rocky’s factory in Moca, Puerto Rico, and shipped this year.
–Compiled by Wendy Geister
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