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Big 5 Sporting Goods posts marginal growth in Q2 sales

06 Aug '10
4 min read

This transition is expected to significantly impact fiscal third quarter net sales and earnings comparisons to the prior year because a high volume sales week, which included the Fourth of July holiday, has shifted out of the third fiscal quarter and a historically lower volume sales week will shift into the end of the third fiscal quarter for 2010.

Consequently, fiscal 2010 third quarter earnings guidance reflects the Company's expectation that this calendar shift will impact quarterly net sales comparisons to the prior year by approximately $7.0 million and quarterly earnings per diluted share comparisons to the prior year by approximately $0.07.

The effect of the calendar shift is not reflected in the Company's same store sales guidance for the third quarter because the Company reports same store sales on a comparable calendar day basis as opposed to a fiscal period basis. For comparative purposes, for the third quarter of fiscal 2009, the Company's same store sales increased 1.6% and earnings per diluted share were $0.37.

Store Openings
During the second quarter, the Company opened two new stores, including one which is intended to replace an existing store that is expected to close at a later date. The Company ended the second quarter with 388 stores, and continues to anticipate opening between 10 and 15 new stores, net of relocations, during fiscal 2010.

Big 5 Sporting Goods Corporation

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