Warm winter weather led to a decline in 4th quarter sales at La Canada-based Sport Chalet Inc., which operates sporting goods stores.
For the quarter ended April 1, the company saw sales of $81.9 million, a 17 percent decrease from $98.2 million in the same period in 2011.
Net losses increased to $3.8 million, or $0.27 per diluted share, compared to net income of $300,000, or $0.02 per diluted share, for the same period last year.
"The nearly unprecedented warm and dry winter weather we experienced in the third quarter continued into the fourth quarter and significantly affected our sales and profitability,” said Craig Levra, CEO of Sport Chalet, in a prepared statement.
For the fiscal year, net sales decreased 3.5 percent to $349.9 million from $362.5 million in fiscal 2011.
A store closure accounted for a loss of some $4 million in net sales along with the absence of an extra week in 2011, which accounted for an additional loss of $5.8 million, company officials said.
On Monday Sport Chalet also announced plans to open a new outlet in Downtown Los Angeles next year. The new store, slated to open in May 2013, will occupy a 26,800 square foot space in the FIGat7th retail center, at the intersection of Figueroa Street and 7th Street.