Home / Knowledge / News / Apparel/Garments / Same Store sales up at Big 5 Sporting
Same Store sales up at Big 5 Sporting
May '10
Big 5 Sporting Goods Corporation, a leading sporting goods retailer, reported financial results for the first quarter ended April 4, 2010.

For the fiscal 2010 first quarter, net sales increased to $218.5 million from net sales of $210.3 million for the first quarter of fiscal 2009. Same store sales increased 2.4% versus the comparable period last year, representing the Company's fourth consecutive quarterly increase in same store sales. As anticipated, first quarter sales were negatively affected by a shift in the timing of the Easter holiday, during which the Company's stores are closed, into the first quarter from the second quarter last year.

Gross profit for the fiscal 2010 first quarter increased to $71.6 million from $67.1 million in the first quarter of the prior year. The Company's gross profit margin improved to 32.7% in the fiscal 2010 first quarter versus 31.9% in the first quarter of the prior year. The increase in gross profit margin was driven primarily by an increase in merchandise margins of approximately 15 basis points and increased sales leverage on distribution and store occupancy costs.

Selling and administrative expense as a percentage of net sales decreased to 28.8% in the fiscal 2010 first quarter versus 29.4% in the first quarter of the prior year. The Company leveraged selling and administrative costs through higher sales. Overall selling and administrative expense increased $1.2 million during the quarter from the same period last year due mainly to the increase in store count.

Net income for the first quarter of fiscal 2010 improved to $5.0 million, or $0.23 per diluted share, from net income of $2.8 million, or $0.13 per diluted share, for the first quarter of fiscal 2009.

"We are pleased to have significantly improved both our top and bottom lines during the first quarter of fiscal 2010," said Steven G. Miller, the Company's Chairman, President and Chief Executive Officer. "We achieved earnings per share at the high end of our guidance range for the quarter, driven by growth in customer traffic and average sale and expansion of merchandise and operating margins. Our same store sales growth of 2.4% represented our strongest quarterly same store growth since the fourth quarter of 2006, as favorable winter weather conditions in many of our markets led to sales increases across our three major merchandise categories of apparel, footwear and hardgoods. Additionally, our strong cash flow enabled us to continue to reduce debt levels, and we ended the quarter with $46 million in debt compared to $55 million at the end of 2009 and $77 million at the end of the first quarter of 2009."

Mr. Miller continued, "We believe we are well positioned to grow same store sales again during the second quarter of fiscal 2010. While the economic environment in our markets remains challenging, we remain confident in our overall strategy and believe our focus on providing compelling values to our customers will continue to serve our business well."

Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Vasanth Kumar
Max Fashion India

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

Lynda Kelly
Suominen Corporation

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search