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Big 5 Q4 2007 earnings in line with revised guidance
01
Mar '08
Big 5 Sporting Goods Corporation, a leading sporting goods retailer, today reported financial results for the fiscal 2007 fourth quarter and full year ended December 30, 2007.

As the Company previously reported, for the fiscal 2007 fourth quarter, net sales were $232.1 million, compared to net sales of $234.5 million for the fourth quarter of fiscal 2006. Same store sales declined 4.7% for the fourth quarter. The decrease in sales is primarily attributable to weakened customer traffic as a result of the challenging consumer environment.

Additionally, sales results were impacted by a significant deterioration in the performance of the roller shoe product category over the prior year, which accounted for approximately 45% of the same store sales decline.

Gross profit for the fiscal 2007 fourth quarter was $79.2 million, compared to $80.4 million in the fourth quarter of the prior year. The Company's gross profit margin was 34.1% in the fiscal 2007 fourth quarter versus 34.3% in the fourth quarter of the prior year.

The slight decrease in gross profit margin was driven primarily by a 35 basis point decline in product selling margins and higher store occupancy costs, partially offset by a decrease in distribution center expenses resulting from operational efficiencies realized in the Company's new distribution center.

Selling and administrative expense as a percentage of net sales was 28.8% in the fiscal 2007 fourth quarter versus 26.6% in the fourth quarter of the prior year, primarily due to the lower than anticipated sales levels, higher store-related expenses reflecting an increased store count and higher advertising expenses resulting in part from the timing of co-op advertising programs.


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