Home / Knowledge / News / Apparel/Garments / Same Store sales up at Big 5 Sporting
Same Store sales up at Big 5 Sporting
10
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

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Kevin Nelson
TissueGen

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

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

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

July 2017

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

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X