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Big 5 Sporting posts 1.8% rise in Q4FY'13
27
Jan '14
Big 5 Sporting Goods Corporation, a leading sporting goods retailer, reported sales results for the fiscal 2013 fourth quarter and full year ended December 29, 2013.
 
Highlights:
-Reports Fourth Quarter Net Sales Increase of 1.8% and Same Store Sales Decrease of 0.5%
-Reports Fiscal 2013 Net Sales Increase of 5.6% and Same Store Sales Increase of 3.9%
-Narrows Fourth Quarter Earnings Guidance to a Range of $0.21 - $0.23 per Diluted Share, Including $0.01 for E-commerce Development Costs, Compared to Prior Year Period Earnings per Diluted Share of $0.19
 
For the fiscal 2013 fourth quarter, net sales increased 1.8% to $248.0 million from net sales of $243.6 million for the fourth quarter of fiscal 2012. Same store sales decreased 0.5% for the fourth quarter of fiscal 2013 versus the prior year period. 
 
For comparison purposes, the Company's same store sales increased 6.5% for the fourth quarter of fiscal 2012 over the fourth quarter of the prior year. The Company's merchandise margins for the fourth quarter of fiscal 2013 increased 47 basis points from the same period in the prior year.
 
For the fiscal 2013 full year, net sales increased 5.6% to $993.3 million from $940.5 million for fiscal 2012.  Same store sales increased 3.9% for the fiscal 2013 full year.
 
For the fiscal 2013 fourth quarter, the Company now expects to realize earnings per diluted share in the range of $0.21 to $0.23.  This guidance reflects anticipated expenses associated with the development of the Company's new e-commerce platform of approximately $0.01 per diluted share.  For comparison purposes, the Company's earnings per diluted share for the fourth quarter of fiscal 2012 were $0.19. 
 
For the fiscal 2013 full year, the Company now expects to realize earnings per diluted share in the range of $1.24 to $1.26, including legal settlement charges of $0.04 per diluted share and e-commerce development expenses of approximately $0.02 per diluted share, compared to earnings per diluted share for fiscal 2012 of $0.69, including store closing and non-cash impairment charges of $0.04 per diluted share.

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Courtesy: India ITME

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