Home / Knowledge / News / Apparel/Garments / Same stores sales fall 4.9% at Big 5 Sporting in Q2FY'15
Same stores sales fall 4.9% at Big 5 Sporting in Q2FY'15
30
Jul '14
Big 5 Sporting Goods Corporation, a leading sporting goods retailer, reported financial results for the fiscal 2014 second quarter ended June 29, 2014.

For the fiscal 2014 second quarter, net sales were $231.2 million, compared to net sales of $239.9 million for the second quarter of fiscal 2013. Same store sales declined 4.9% for the second quarter of fiscal 2014.

For comparison purposes, the Company's same store sales increased 4.4% for the second quarter of fiscal 2013 over the second quarter of the prior year. Sales results for the second quarter of fiscal 2014 reflect a continued reduction in demand for firearms, ammunition and related products, as well as general softness in the overall consumer environment.

Second quarter sales also reflect the small unfavorable impact of the calendar shift of the Easter holiday, during which the Company's stores were closed, out of the first quarter and into the second quarter this year.

Gross profit for the fiscal 2014 second quarter was $75.6 million, compared to $79.7 million in the second quarter of the prior year. The Company's gross profit margin was 32.7% in the fiscal 2014 second quarter versus 33.2% in the second quarter of the prior year, reflecting a decrease in merchandise margins of 19 basis points and an increase in store occupancy costs resulting primarily from the opening of new stores. For comparison purposes, merchandise margins in the second quarter last year increased by 34 basis points versus the second quarter of fiscal 2012.

Selling and administrative expense as a percentage of net sales was 30.8% in the fiscal 2014 second quarter versus 28.8% in the second quarter of last year. Overall selling and administrative expense increased $1.9 million during the quarter from the prior year due primarily to higher employee labor and benefit-related expense, higher store-related expenses reflecting an increased store count, added costs related to the Company's e-commerce initiative and a non-cash pre-tax impairment charge of $0.8 million related to certain underperforming stores.

Net income for the second quarter of fiscal 2014 was $2.5 million, or $0.11 per diluted share, including a non-cash impairment charge of $0.02 per diluted share and expenses associated with the development of the Company's e-commerce platform of $0.01 per diluted share, compared to net income of $6.1 million, or $0.28 per diluted share, for the second quarter of fiscal 2013.

Click here to view full results.

Big 5 Sporting Goods


Must ReadView All

Uzbekistan, S Korea to launch textile techno park in Sept

Textiles | On 19th Feb 2018

Uzbekistan, S Korea to launch textile techno park in Sept

Uzbekistan and South Korea plan to launch a modern textile techno...

3 African nations may face AGOA sanctions if Mitumba banned

Apparel/Garments | On 19th Feb 2018

3 African nations may face AGOA sanctions if Mitumba banned

Rwanda, Tanzania and Uganda will face US trade penalties, including...

India’s Uttar Pradesh woos Tiruppur knitwear industrialists

Apparel/Garments | On 19th Feb 2018

India’s Uttar Pradesh woos Tiruppur knitwear industrialists

Two top Uttar Pradesh government officials visited Tamil Nadu’s...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

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

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Sugandha Bhardwaj

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

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

February 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
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

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
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

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
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

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
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


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