UPDATE: Imperial Capital Reiterates on Sport Chalet as Sales Trends Remain Challenging

In a report published Friday, Imperial Capital analyst Lee J. Giordano reiterated an In-Line rating on

, but lowered the price target from $1.50 to $1.25. In the report, Imperial Capital noted, “We are maintaining our In-Line rating and reducing our one-year price target to $1.25 from $1.50 following F3Q14 results on 11/11/13. Sport Chalet continues to implement numerous strategic initiatives to help drives sales growth, manage expenses, and return the company to profitability. While longer term we see potential improvements from store remodels and e-commerce investments, near term pressure from a weak consumer spending environment and negative comp trends will likely limit significant upside in the shares.” Sport Chalet closed on Thursday at $1.22.