Big 5 Sporting Goods second quarter, net sales increased 8.5% to $184.5 million from $170.1 million in the second quarter of fiscal 2003. Same store sales increased 3.9% versus the same quarter last year, representing the company's 34th consecutive quarter of same store sales growth over comparable prior periods. Net income for the 2004 second quarter increased to $8.0 million, or 35 cents per diluted share excluding a charge of $0.5 million, or $0.02 per diluted share, net of taxes, associated with the redemption of $15.0 million principal amount of the company's 10.875% senior notes. These figures compare
to net income of $6.3 million, or $0.28 per diluted share, in the same period last year. Net income, calculated in accordance with generally accepted accounting principles (“GAAP”), was $7.5 million, or 33 cents per diluted share,
for the 2004 second quarter.

For the six-month period ended June 27, 2004, net sales increased 9.2% to
$365.5 million from $334.6 million in the same period last year and same store
sales increased 4.5% versus the same six months of 2003. Net income in the
first half of fiscal 2004 was $14.8 million, or $0.65 per diluted share
excluding the aforementioned second quarter debt redemption charge, compared
to $10.5 million, or $0.46 per diluted share excluding a similar debt
redemption charge of $0.9 million, or $0.04 per diluted share, net of taxes,
for the same period in fiscal 2003. Net income, calculated in accordance with
GAAP, increased to $14.3 million, or $0.63 per diluted share, for the first
six months of fiscal 2004, compared to net income of $9.7 million, or
$0.43 per diluted share, in the same period last year.

“We are pleased to have achieved another very solid performance for Big 5
Sporting Goods,” said Steven G. Miller, Big 5's Chairman, President and Chief
Executive Officer. “Our focused approach to drive top-line sales allowed us
to realize comp store gains in each of our five geographic regions and for
each of our three major merchandise categories — footwear, apparel and hard
goods. Our proven business model continues to perform well and we feel we are
positioned to continue our strong performance going forward.”

The company ended the fiscal 2004 second quarter operating 295 stores,
opening one new store during the quarter. The company anticipates opening
between 13 and 16 additional new stores by the end of fiscal 2004.

EPS Guidance

Big 5 expects to realize same store sales growth in the low single-digit
range for the third fiscal quarter of 2004, resulting in earnings per diluted
share in the range of $0.34 to $0.36. For the 2004 fiscal year, the company
expects to realize same store sales growth in the low to mid-single-digit
range and expects pro forma earnings to be in the range of $1.55 to $1.61 per
diluted share, which is unchanged from previous guidance. The full year
estimate of earnings per diluted share excludes the $0.02 per diluted share
charge recorded in the second quarter associated with a redemption of
$15.0 million principal amount of the company's 10.875% senior notes. Fiscal
2004 will include 53 weeks for accounting purposes, with the extra week being
included in the company's fourth quarter results. This additional week should
add approximately 1.75% to fiscal 2004 sales versus fiscal 2003, but should
not have a material impact on earnings results for the fourth quarter or
fiscal year.

                           FINANCIAL TABLES FOLLOW

BIG 5 SPORTING GOODS
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except earnings per share data)

Pro Forma
As Reported 13 Weeks
13 Weeks Ended Ended (1)
June 27, June 29, June 27,
2004 2003 2004

Net sales $184,487 $170,125 $184,487
Cost of goods sold, buying and
occupancy 116,806 107,530 116,806
Gross profit 67,681 62,595 67,681

Selling and administrative 50,035 46,521 50,035
Depreciation and amortization 2,711 2,527 2,711

Operating income 14,935 13,547 14,935
Premium and unamortized financing
fees related to redemption of debt 792 -- --
Interest expense, net 1,638 2,922 1,638

Income before income taxes 12,505 10,625 13,297
Income taxes 5,001 4,357 5,318

Net income available to common
stockholders $7,504 $6,268 $7,979

Earnings per share:
Basic $0.33 $0.28 $0.35

Diluted $0.33 $0.28 $0.35

Shares used to calculate earnings per
share:
Basic 22,668 22,664 22,668

Diluted 22,794 22,730 22,794