LOS ANGELES, Sept. 30 /PRNewswire-FirstCall/ -- Sport Chalet, Inc. (the
"Company") (Nasdaq: SPCHB, SPCHA) today announced that as part of the
recapitalization plan that was approved at the annual meeting of stockholders,
the Company yesterday paid a stock dividend to stockholders of record on
September 22, 2005. Under the terms of the stock dividend, each stockholder
will receive seven shares of Class A Common Stock for each share of Class B
Common Stock held on the record date. As of today, the Class B Common Stock
commenced trading ex-dividend of the Class A Common Stock dividend described
above. The Class A Common Stock trades under the ticker symbol SPCHA.
As previously announced, on Wednesday, September 21, 2005, the Company's
common stock commenced trading under the ticker symbol SPCHB. The
commencement of trading of Class B Common Stock followed the approval of the
Company's recapitalization plan at its annual meeting of stockholders which
resulted in the reclassification of each outstanding share of common stock
into 0.25 shares of Class B Common Stock.
About Sport Chalet, Inc.
Sport Chalet, founded in 1959 by Norbert Olberz, is a leading operator of
full service specialty sporting goods stores in California and Southern
Nevada. The Company offers over 40 services for the serious sports
enthusiast, including backpacking, canyoneering, and kayaking instruction,
custom golf club fitting and repair, ski rental and repair, SCUBA training and
certification, SCUBA boat charters, team sales, racquet stringing, and bicycle
tune up and repair throughout its current 36 locations. The address for Sport
Chalet's web site is www.sportchalet.com.
Disclosure Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties that may cause
the Company's actual results in future periods to differ materially from
forecasted results. Those risks include, among other things, the competitive
environment in the sporting goods industry in general and in the Company's
specific market areas, inflation, the challenge of implementing the Company's
expansion plans and maintaining its competitive position, changes in costs of
goods and services, the weather and economic conditions in general and in
specific market areas. These and other risks are more fully described in the
Company's filings with the Securities and Exchange Commission.
SOURCE Sport Chalet