One day after Sport Chalet reported a net loss of $1.9 million in its first quarter — the 10th consecutive quarterly loss for the retailer — Chairman and Chief Executive Craig Levra told shareholders the company is being positioned to make gains despite a stagnant retail climate.
"We will do better," Levra said of the sporting goods chain. "We are not sure when the economy will do better."
The remarks were made Tuesday during Sport Chalet's annual stockholders meeting at the corporate headquarters in La Cañada Flintridge.
Results released Monday reported that in the first quarter ending June 27, Sport Chalet sales increased by 0.4% to $79.7 million, up from $79.4 million for the first quarter last year.