With a goal of driving growth, Sport Chalet has announced its recent partnership with Cappello Capital Corp. as its exclusive financial advisor. Cappello Capital Corp. will work with the multi-sport retailer to execute a number of newly laid out strategic initiatives and explore options for finding investors and partners, forming alliances and engaging in joint ventures.
"While we lack the capital of some of our larger competitors, over the past year we have taken definitive steps to position Sport Chalet for future growth. We believe that in collaboration with the right partner, we can more expeditiously implement our growth plans across all channels and create shareholder value," said Craig Levra, Sport Chalet's chairman and CEO. "Cappello has an impressive track record of helping companies identify strategic partners and raise growth capital, and we believe they are the ideal firm to assist us in this important endeavor."
Sport Chalet recently announced several initiatives designed to accelerate the company's growth strategy, including plans to boost online sales, enhance customer service via improved technology and data collection capabilities, and strengthen brand awareness in local markets. Based on the success of its first Next Generation store in L.A. in June, the company also plans to utilize the new flexible floor plan format in new stores both in and outside of its core markets.?
"We are excited to be working with Sport Chalet to identify the best possible strategic growth partner or alliance," said Alexander L. Cappello, chairman and CEO of Cappello Capital Corp. "We are very impressed with Sport Chalet's strategic initiatives developed to drive growth and shareholder value, including the new next generation store format, for which early operating results appear encouraging, and we anticipate strong interest from potential strategic partners."
With 52 stores in Arizona, California, Nevada and Utah, Sport Chalet sells bikes from brands including Haro, Electra, Diamondback,?KHS, Pure Fix?and ASI's Fuji and SE Bikes. The company's stores also provide bicycle service and car rack installation.
