Big 5 posts 2Q sales growth, income up slightly
EL SEGUNDO, Calif. Big 5 Sporting Goods reported that for the fiscal 2010 second quarter, net sales increased to $219.8 million from net sales of $216 million for the second quarter of fiscal 2009. As the company previously reported, same-store sales for the quarter decreased 0.5% versus the comparable period last year.
Net income for the second quarter of fiscal 2010 was $4.8 million, or 22 cents per diluted share, compared with net income of $4.7 million, or 22 cents per diluted share, for the second quarter of fiscal 2009.
"Our second quarter earnings are in line with the revised guidance we issued in early July," said Steven Miller, the company's chairman, president and CEO. "As previously reported, the slight same store sales decline for the quarter reflected the sluggish pace of the economic recovery and unseasonably cool weather in many of our markets, particularly during the month of May. We are encouraged by the positive sales trends that we experienced during June and into the third quarter to date. While the economic environment in our markets remains challenging, we are pleased with our solid execution and believe that our focus on providing customers with compelling values on an exciting product assortment will continue to serve our business well."
For the fiscal 2010 third quarter, the company said it expects same-store sales in the flat to positive low-single digit range and earnings per diluted share in the range of 27 cents to 34 cents.