Home / Knowledge / News / Apparel/Garments / Net sales down 7.28% at Big 5 Sporting in Q3 FY'12
Net sales down 7.28% at Big 5 Sporting in Q3 FY'12
02
Nov '12
Big 5 Sporting Goods Corporation, a leading sporting goods retailer, reported financial results for the fiscal 2012 third quarter and first nine months ended September 30, 2012.

For the fiscal 2012 third quarter, net sales increased to $251.8 million from net sales of $234.7 million for the third quarter of fiscal 2011. Same store sales increased 5.2% for the third quarter of 2012 versus the comparable period in the prior year. As anticipated, third quarter sales reflect a modest benefit over the prior year from the calendar shift of the Fourth of July holiday, which resulted in certain holiday-related sales moving from the second quarter to the third quarter for 2012.

Gross profit for the fiscal 2012 third quarter increased to $83.9 million from $77.0 million in the third quarter of the prior year. The Company's gross profit margin was 33.3% in the fiscal 2012 third quarter versus 32.8% in the third quarter of the prior year. The increase in gross profit margin reflects an increase in merchandise margins of 25 basis points and the leveraging of store occupancy and distribution costs.

Selling and administrative expense as a percentage of net sales improved to 27.9% in the fiscal 2012 third quarter from 28.8% in the third quarter of the prior year. Overall selling and administrative expense increased $2.9 million during the quarter from the prior year due primarily to higher store-related expenses reflecting an increased store count, increased employee benefit-related costs and a pre-tax charge of $0.4 million related to the closing of one store.

Net income for the third quarter of fiscal 2012 was $8.2 million, or $0.38 per diluted share, including a store closing charge of $0.01 per diluted share, versus net income of $5.8 million, or $0.27 per diluted share, for the third quarter of fiscal 2011.

For the 39-week period ended September 30, 2012, net sales increased to $696.9 million from net sales of $675.4 million in the 39 weeks ended October 2, 2011. Same store sales increased 1.2% in the first 39 weeks of fiscal 2012 versus the comparable period last year. Net income was $10.9 million, or $0.50 per diluted share, including $0.04 of store closing and non-cash impairment charges, for the first 39 weeks of fiscal 2012, compared to net income of $11.7 million, or $0.53 per diluted share, including a $0.02 non-cash impairment charge, for the comparable period last year.

"We are extremely pleased with our third quarter results, which built on the positive momentum in the second quarter and exceeded our earnings guidance," said Steven G. Miller, the Company's Chairman, President and Chief Executive Officer. "We experienced improvement in both customer traffic and average sale, as well as expanded merchandise and operating margins.

“The strength of our performance was broad-based, as same store sales increased in each of our geographic regions and across all of our major product categories of apparel, footwear and hardgoods. We believe our business has continued to benefit from the merchandise and marketing initiatives that we have implemented over the last year. Additionally, our summer product sales benefited from relatively favorable weather compared to the prior year."


Must ReadView All

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Sugandha Bhardwaj

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search