Big 5 experiences positive sales trends

12 Nov '09

4 min read

Mr. Miller continued, "We are encouraged that the positive sales trends we experienced during the third quarter have continued, and actually improved, thus far in the fourth quarter. For the first five weeks of the quarter, we have comped positively in the low single-digit range. While the critical holiday period is still ahead and consumer spending habits remain unpredictable, we are excited about our product assortment and promotional plans and believe that our ability to provide tremendous values on quality merchandise will position us well during the gift-giving season."

Quarterly Cash Dividend
The Company's Board of Directors has declared a quarterly cash dividend of $0.05 per share of outstanding common stock, which will be paid on December 15, 2009 to stockholders of record as of December 1, 2009.

Guidance
For the fiscal 2009 fourth quarter, the Company expects same store sales in the positive low to low-mid single-digit range and earnings per diluted share in the range of $0.28 to $0.38. For comparative purposes, the Company's earnings per diluted share for the fourth quarter of fiscal 2008 were $0.17. As a result of the fiscal calendar, the fourth quarter of fiscal 2009 will include 14 weeks and the fourth quarter last year included 13 weeks. The Company's same store sales guidance above reflects comparable 14-week periods.

Store Openings
During the third quarter of fiscal 2009, the Company did not open any new stores or close any stores and continued to operate 382 stores. The Company anticipates opening two new stores during the fiscal 2009 fourth quarter. The Company expects the number of new store openings in fiscal 2010 to be substantially higher than fiscal 2009.

Big 5 Sporting Goods Corporation

More Big 5 Sporting Goods Corporation News... More Apparel/Garments News - United States Of America...