Big 5 Sporting Goods Corporation Announces Sales Results for the Fourth Quarter and Full Year Ended December 29, 2019; Revises Earnings Guidance for the Fourth Quarter and Full Year 2019
January 13, 2020 at 04:01 pm
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Big 5 Sporting Goods Corporation announced sales results for the fourth quarter and full year ended December 29, 2019. For the fiscal 2019 fourth quarter, net sales were $244.1 million compared to net sales of $247.1 million for the fourth quarter of fiscal 2018. Same store sales decreased 0.6% for the fourth quarter of fiscal 2019. The company's merchandise margins increased by approximately 239 basis points for the fourth quarter of fiscal 2019 compared to the fourth quarter of fiscal 2018.
For the fiscal 2019 full year, net sales increased to $996.5 million from $987.6 million in fiscal 2018. Same store sales increased 1.2% for the fiscal 2019 full year. The company's merchandise margins increased approximately 66 basis points for the fiscal 2019 full year compared to fiscal 2018.
For the fiscal 2019 fourth quarter, the Company now expects to generate earnings per diluted share in the range of $0.02 to $0.04, which compares to the Company's previous guidance for the fourth quarter of a loss per share in the range of $0.04 to $0.16. For the fiscal 2019 full year, the company now expects to generate earnings per diluted share in the range of $0.40 to $0.42, including a net benefit of $0.01 per diluted share related to the favorable settlement of a software contract termination in the second quarter which was partially offset by a charge for the write-off of deferred tax assets related to share-based compensation in the first quarter. For purposes of comparison to the prior year, for the fiscal 2018 fourth quarter the Company realized a loss of $0.24 per share, which included $0.08 per share of charges as previously reported, and for the fiscal 2018 full year the company realized a loss of $0.17 per share, which included $0.09 per share of charges as previously reported.
Big 5 Sporting Goods Corporation is a sporting goods retailer in the western United States. The Company conducts its business through its subsidiary, Big 5 Corp. Its product mix includes athletic shoes, apparel, and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, home recreation, tennis, golf, and winter and summer recreation. The Company is operating approximately 430 stores and an e-commerce platform under the Big 5 Sporting Goods name. It provides a full-line product offering in a traditional sporting goods store format that averages approximately 12,000 square feet. Its stores include a range of products from various brand name manufacturers, including adidas, Coleman, Columbia, Everlast, New Balance, Timex, Rawlings, Skechers, Spalding, Under Armour, Hillerich & Bradsby, Mueller Sports Medicine, Igloo, and others. It operates a 953,000 square foot distribution center located in Riverside, California.
Big 5 Sporting Goods Corporation Announces Sales Results for the Fourth Quarter and Full Year Ended December 29, 2019; Revises Earnings Guidance for the Fourth Quarter and Full Year 2019