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Same stores sales decline at Big 5 Sporting in Q2
Jul '10
Big 5 Sporting Goods Corporation, a leading sporting goods retailer, provided same store sales results and updated earnings guidance for the second quarter ended July 4, 2010.

For the fiscal 2010 second quarter, same store sales declined 0.5% versus the comparable period last year. As a reminder, the Company's same store sales increased 0.3% during the second quarter of fiscal 2009 compared to the second quarter of fiscal 2008.

For the fiscal 2010 second quarter, the Company now expects to realize earnings per diluted share in the range of $0.20 to $0.23, compared to earnings per diluted share of $0.22 for the second quarter last year.

"Our top-line results were slightly softer than we expected, which we attribute largely to the sluggish pace of the economic recovery across much of our geography as well as a lack of warm weather in many of our west coast markets," said Steven G. Miller, the Company's Chairman, President and Chief Executive Officer. "All three of our major merchandise categories -- footwear, hardgoods and apparel -- performed within a relatively tight range of one another. Although we comped positively in April and June and experienced encouraging sales trends over the recent Fourth of July holiday period, those sales were not enough to offset a challenging month of May that was impacted by lackluster sales of summer-related products."

Mr. Miller continued, "We continue to perform well on the operational side of our business, as we maintained product margins for the quarter, and remain pleased with our inventory management and expense control efforts. While the economic environment in our markets is not ideal, 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."

All figures in this release remain subject to the completion of normal quarter-end accounting procedures, which could result in changes to these preliminary results.

Big 5 is a leading sporting goods retailer in the western United States, operating 388 stores in 12 states under the "Big 5 Sporting Goods" name. Big 5 provides a full-line product offering in a traditional sporting goods store format that averages 11,000 square feet. Big 5's product mix includes athletic shoes, apparel and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, snowboarding and in-line skating.

Big 5 Sporting Goods Corporation

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