Home / Knowledge / News / Apparel/Garments / Sales at Big 5 Sporting inch down in Q1 FY'12
Sales at Big 5 Sporting inch down in Q1 FY'12
02
May '12
Big 5 Sporting Goods Corporation, a leading sporting goods retailer, reported financial results for the fiscal 2012 first quarter ended April 1, 2012.

For the fiscal 2012 first quarter, net sales were $218.5 million, compared to net sales of $221.1 million for the first quarter of fiscal 2011. Same store sales decreased 2.9% for the first quarter of 2012. The Company's first quarter sales were negatively affected by a lack of winter weather in most of the Company's geographic markets, which significantly reduced demand for cold weather apparel and footwear and snow-related products.

Gross profit for the fiscal 2012 first quarter was $67.4 million, compared to $72.2 million in the first quarter of the prior year. The Company's gross profit margin was 30.9% in the fiscal 2012 first quarter versus 32.6% in the first quarter of the prior year.

The decrease in gross profit margin was driven primarily by lower merchandise margins of 156 basis points reflecting the product sales mix shift away from higher margin winter-related products due to unfavorable winter weather conditions, as well as increased promotional activities and product cost inflation.

Selling and administrative expense as a percentage of net sales was 30.5% in the fiscal 2012 first quarter versus 30.4% in the first quarter of the prior year. Overall selling and administrative expense decreased $0.7 million during the quarter from the prior year due mainly to a reduction in employee benefit-related costs from higher than normal levels in the prior year period, as well as a reduction in debit card fees as a result of recent federal legislation.

Net income for the first quarter of fiscal 2012 was $156,000, or $0.01 per diluted share. For the first quarter of fiscal 2011, net income was $2.8 million, or $0.13 per diluted share.

"Our results for the first quarter reflect the challenging economic conditions in our western markets and, most significantly, highly unfavorable winter weather conditions in most of our major geographic areas, which led to an over 25% decrease in winter-related product sales for the period," said Steven G. Miller, the Company's Chairman, President and Chief Executive Officer.

"Excluding winter-related products, our sales performed positively in the first quarter and strength in non-winter merchandise has continued into the start of the second quarter as we move beyond the winter selling season. Our same store sales are currently running in the positive low single-digit range for the second quarter to date.

“We believe the positive trends in our business reflect the early benefits of our ongoing initiatives to refine our merchandising mix and adjust our promotional and marketing plans to better appeal to today's consumer."

Quarterly Cash Dividend
The Company's Board of Directors has declared a quarterly cash dividend of $0.075 per share of outstanding common stock, which will be paid on June 15, 2012 to stockholders of record as of June 1, 2012.


Must ReadView All

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search