Big 5 Sporting Goods posts net sales of $996 mn in FY19

27 Feb '20

2 min read

Pic: Big 5 Sporting Goods

Big 5 Sporting Goods Corporation, a leading sporting goods retailer, reported net sales for full fiscal 2019 increased to $996.5 million compared to FY18 ($987.6 million). For fourth quarter (Q4) FY19, that ended on December 29, 2019, net sales were $244.1 million compared to $247.1 million in same quarter prior year. Net income for FY19 was $8.4 million.

Same store sales increased 1.2 per cent in FY19 versus the prior year. Same store sales reportedly decreased 0.6 per cent in Q4 FY19.

Gross profit in the fourth quarter increased 9.4 per cent to $77.0 million, compared to $70.4 million in the same quarter prior year. The Company's gross profit margin was 31.6 per cent in Q4 FY19 versus 28.5 per cent in same quarter prior year. Gross profit for complete FY19 was $312.0 million.

Selling and administrative expense as a percentage of net sales was reportedly flat versus the prior year at 30.9 per cent ($75.5 million) in the Q4 FY19. Selling and administrative expense for FY19 was $297.2 million. Net income for the fourth quarter FY19 was $0.4 million.

For the fiscal 2020 first quarter, Big 5 Sporting Goods reported that it expects same store sales to decrease in the mid-to-high-single-digit range.

During the Q4 FY19, the company opened one store and relocated one store, ending FY19 with 434 stores in operation. During the Q1 FY20 first quarter, the company expects to close three stores and does not expect to open any new stores. For full FY20, the company currently anticipates opening approximately five new stores and closing approximately five stores, as reported.

Fibre2Fashion News Desk (JL)

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