Sporting goods retailer Sport Chalet's same store sales up of 5.7%
29 Jun '05
5 min read
“As we announced in a separate release today, the Company's board of directors has proposed a recapitalization plan that is designed to facilitate the orderly transition of control from Norbert Olberz, the principal stockholder, to the Company's management and increase financial flexibility for the Company and its stockholders.
The proposed recapitalization plan retains current stockholders' existing voting interests and allows management to maintain our strong culture and continue to focus on our growth strategy. Overall, we are pleased with our results for fiscal 2005 and encouraged about the direction of our business. We remain committed to our strategy to generate long-term top and bottom line growth and increase stockholder value.”
The Company's Form 10-K with full financial statements will be available before June 30, 2005.
Proposed Recapitalization Plan Sport Chalet also announced today in a separate release that its board of directors has proposed a recapitalization plan designed to facilitate the orderly transition of control from Norbert Olberz, the principal stockholder, to the Company's management and increase financial flexibility for the Company and its stockholders. The recapitalization plan includes transferring a portion of founder Norbert Olberz's Sport Chalet ownership to Craig Levra, Chairman and Chief Executive Officer, and Howard Kaminsky, Chief Financial Officer, and allows current stockholders to retain existinent and increase financial flexibility for the Company and its stockholders. The recapitalization plan includes transferring a portion of founder Norbert Olberz's Sport Chalet ownership to Craig Levra, Chairman and Chief Executive Officer, and Howard Kaminsky, Chief Financial Officer, and allows current stockholders to retain existing ownership and voting interests.
marketing@alchempro.com
