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Sport Chalet Inc. Message Board

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  • It's just the audio feed, but it is extremely good.

    Both the presentation as well as the Q&A are packed with excellent information about the Sport Chalet model, the transformation taking place today and going forward.

    Best Q&A:
    Q: Where do you see yourself in 5 years
    A: Sport Chalet will be twice as big as today

    We are at the very beginning of a major growth spurt and return to sustained profitability.

  • Sport Chalet is circling the drain. Get out while you still can. Craig-ee boy is the highest paid loser I've ever heard of.........................

    Sentiment: Strong Sell

  • Reply to

    Going down!

    by gene.foss Jun 25, 2014 11:31 AM

    thanks for your semi-annual posts which have been nothing more than a broken record for five years now.

    X-employee for a short time and spelling/grammar of a high school drop-out are not conducive to success in life.

    Clearly, as a former stockholder you took a massive loss having purchased shares much higher than where you sold. We see children like yourself proliferate on the Y! boards doing exactly what you do to take out their revenge - as they are too wimpy to do anything more.

    BYe bye LOSER!

    gene.foss • May 11, 2009 10:14 AM

    X-employee for a short time and former stock holder. Once again baby.........
    Thier circling the drain......BYe bye

  • Current share price is from 10 to 20 chickens selling under 1000 shares each week believing the end of the world is near because year end earnings have not yet been announced. This is especially seen on Fridays as they get hysteric think they will be announced after hours that day, and of course that's the worst thing in the world.

    It's time to pull up your big girl panties and take advantage of the situation. Buy as many shares as you can here because 6 months from now you'll be kicking yourself for having missed the opportunity.

    Either that, or you can go through life like gene.foss ... being a pathetic loser who comes back every 6 months to throw stones to ingratiate himself for his own shortcomings, especially as it relates to Sport Chalet.

  • I'll take the quick 20% profit.

    Buy bye gene.

  • Tripp Levy PLLC a leading national securities and shareholder rights law firm announces that it is investigating the acquisition of Sport Chalet Inc. Vestis Retail Group, announced today that it has signed a definitive agreement to acquire Sport Chalet (SPCHA) (SPCHB)

    Under the terms of the agreement, an affiliate of Vestis will commence a cash tender offer for all of the outstanding Class A and Class B shares of Sport Chalet for $1.20 per share.

    The investigation concerns whether the senior executives and board of directors of Sport Chalet engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, whether the price of $1.20 is unfairly low, and whether the senior executives are receiving personal benefits for their own self interests that are not being shared with other common shareholders.

    If you are a shareholder of Sport Chalet and would like additional information regarding this matter at no cost or expense please contact us toll free at 1-800-511-7037 or visit our website at tripplevy.

    Attorney advertising

  • What a P.O.S. (JMHO). First, he purposely does not run Sport Chalet well for the SHAREHOLDERS (just himself and his small coterie of 'Insiders' -- lease payments, too high salaries, etc.). Second, he proposes a take-over offer at a miniscule valuation. SPCHA and SPCHB should be valued at P/S since someone like DKS or SportsAuthority could run this business porofitably. He could EASILY get DKS to pay $3+ a share and DKS would be getting a heck of a bargain!! Let's all hope, wish, and pray that DKS or Leonard Green and Partners (Big 5, Sports Authority, Oshmans, SportmMart) make a low-ball bid just to blow up this sham.
    Sports Chalet was one of those companies run for 'leases' meaning, the Company was run to line the pockets of Sr. Mgmt. (all-JMHO). Sports Chalet could have been a profitable business, but nnnooooosireee. Just Craig Levra and his 'band' of merrymen like Howard Kaminsky. I mean look at the stock over time. Do Craig and Howard feel even an ounce of shame?!? For their salaries and bonsues?!? If they don't then.......
    Please, please pray for DKS &/or Leonard Green to make a play. It would be the only proper way for shareholders to be fairly rewarded. All JMHO....Great Luck to all.........

  • ANYONE else see what I am seeing?!? Not even a 'takeover premium' for the Class B shares -- SPCHB. Let's hope DKS mgmt sees this and if not, Leonard Green & Associates. This is a sickeningly low takover offer. Anyone else see how the stock was manipulated lower for a couple of days to try and make the takeover 'premium' 'viable'?!?! What a JOKE.............
    Don't know how many votes are needed to break this up (i.e. if mgmt-held shares are counted). There appears to be no 'viable' shopping of the Company to buyers.
    Hope litigation results from Mgmt's actions and Levra & Gang are thrown out of the Company and Sport Chalet is sold to a 'higher and better user' of the Company's assets. This should have been done LONG AGO.........
    All JMHO....Great luck to all............

  • Well said!! They DID NOT (IMHO). $16M equity market cap with $45M in debt with $250M in Sales?!? (all on Yahoo Finance). Hope they lose their jobs over this............But IF they get away with it, then America is on the decline. Sham, sham, sham.........Let's hope this leads to Litigation, litigation, litigation.....All JMHO, great luck to all..........

  • Reply to

    Sham, Sham, Sham..................

    by valuemonster123 Jul 1, 2014 7:39 PM

    On the surface, though your anger appears to be justified, looking deeper shows that there are bigger issues.

    If you hadn't noticed, the earnings announcement/filing was delayed to the last possible moment and for good reason - they were extremely poor...quite a significant loss announced for Q4 and the full year - don't you think?

    As far as takeover premium, if you read the offer documents closely, you'll see that Levra owns a significant portion of the Class B shares (his + Olberz = more than 50%). Further Olberz are selling all of their shares for 75 cents - why in the world would they do that?

    Lastly, company was advised by NASDAQ last week that both A & B shares are now in 180 day window for delisting as they are not compliant with listing requirements. At a share price of $1.05, where the determination was made, if A & B classes were merged into one class, that would barely get it over the compliance minimum of $5 million Market Value of Publicly Held Shares.

    As the company is in the slow seasons, in a tough retail environment, sales are stagnating, and losses are up again significantly.

    This takeover makes extremely good sense for Vestis as Sport Chalet's footprint is extremely complimentary with their own. Further, the economies/synergies that it brings again fits within their current holdings and makes sense for Sport Chalet as well.

    Now, maybe shareholders are being short-changed a little after years of pain. However, with Olberz selling everything at 75 cents, coupled with continued growing losses and need for additional capital (which Vestis is bringing), it will be an extremely tough sell for any legal action to get more for shareholders.

    DKS and BGFV will also have no interest, as they are more interested in growing their own brands, and Sport Chalet is extremely unique/different.

  • Reply to

    Sham, Sham, Sham..................

    by valuemonster123 Jul 1, 2014 7:39 PM

    There is no difference between A and B shares. Voting rights do not matter. Again, Olberz + Levra is more than 50% of B shares.

    I'm sometimes amazed by people who believe that their shares should be worth more simply because they are A or B. Again, no difference whatsoever - each is weighted the same as far as outstanding shares and ownership. Voting rights are worthless.

  • If you haven't read the tender documents, you should - you may learn something you don't already know.

  • How many folks have actually read any of the last few quarterly filings? The sections on Risk Factors? That delisting of the shares by NASDAQ was a known possibility? That Olberzes owned the majority of shares, and telling you that their objectives may not be the same as minority shareholders'?

    There's nothing underhanded here and no responsibility of anyone to be looking out for your well being besides yourself. If you want to fight it, vote your shares against the buyout, go sign up with one of the ambulance chasers who will guarantee that they'll collect fees and you may see an additional couple pennies but in the interim will watch as the offer is dropped to $1.04/share.

  • The tender offer was launched. There is only a few days left. Have you contacted this law firm?

  • You're wasting your time. The market is well aware of the situation and that the tender at $1.20/share is the best you'll get. If many folks believed otherwise, the shares would be trading above $1.20, and obviously they aren't. After the 5 or 6 ambulance chasing law firms realize that between them they've only heard from 3 shareholders, they won't have anywhere near enough for a class action, and see that it's not worth their time/money/effort to pursue.

    Take your $1.20 and be happy you won't have to go through another year of pain and agony. Get back on the horse and put the money to work in another investment with better prospects.

    The ambulance chasers are looking to make money for themselves, not you.

  • AMAZING that something like this can happen. Obviously a quick tender to avoid any scrutiny! Levra STAYING as CEO?!?! What a joke. A complete insider deal. A person incapable of turning around Sport Chalet being REWARDED by staying as CEO?!? What a sham for shareholders. Levra & Gang should be FIRED, and THEN Sport Chalet be put out for auction -- a fair and OPEN auction. That appears to be the only way to get a fair price for Sport Chalet's assets. Mgmt (IMHO) is taking shareholders for another ride. Will they get away with it?!? Hopefully not. I am not one for litigation, but somethimes this is necessary to achieve fairness for the TRUE OWNERS of the company (i.e. the shareholders), and not an INTRENCHED mgmt. Great luck to all............

  • Apparently you have a great misunderstanding. The TRUE OWNERS of the company are those who hold the majority of shares, not some folks holding a few thousand shares like yourself. Again, go back and read the quarterly SEC filings and the risk factors telling you who owns all the shares and that their objectives may not agree with yours.

    What's the problem with a quick tender? If well over 50% of the shares are held by management, why would it be necessary to drag it out? They have voted their shares for the buyout, and aren't interested in searching out any other offers...they don't have to if they are happy with what Vestis is offering. As I told you, voting rights do not matter here. Apparently you have difficulty understanding that as well.

    Again, if you disagree with what's taking place, vote against the buyout, do not tender your shares, call one of the ambulance chasers, exercise your rights - and see where it gets you.

    On this board you're preaching to me, the ambulance chaser, and maybe one or two other folks - your voice means nothing. See the situation for what it is, take your lumps, remember the lesson, and move on.

  • True. And that is why EVERY shareowner needs to accept the tender offer ASAP.

  • person who replied to me earlier this morning and since removed his post indicated that as a B shareholder he was voting against it and refusing to tender.

  • I also did take about 15 minutes to read through all the materials this morning, and there is a clause that allows Vestis the right to "Top Up" so they can purchase enough new shares to achieve a 90% acceptance to negate the effects of reluctant shareholders who vote against or refuse to tender.

    In the event that they do not get the 90% necessary for the Short Form procedure, my guess is they would not drop the offer to $1.04 and do the Long Form, but instead opt for the Top Up and purchase enough new shares for themselves to override those shareholders and get to 90%, once again allowing them to use the Short Form procedure. If you think about it, paying for additional shares is really a non-issue/non-event as the money they pay for new shares is just cash that will come right back to them when the buyout complete. So, I think they will take this approach in that it will be less costly and get it done quickly, which is obviously the plan here.

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