Big 5 Sporting Goods Corporation confirmed previously announced earnings guidance for the 2004 second quarter while reporting that net sales for the period ended June 27, 2004 increased 8.5% to $184.5 million from $170.1 million in the second quarter of fiscal 2003. Same store sales increased 3.9% for the quarter, representing the company's 34th consecutive quarter of same store sales growth.
Second quarter earnings per diluted share are expected to be in the previously issued guidance range of $0.34 to $0.36. Results exclude $0.02 per diluted share, which will be recorded in the second quarter, related to a charge associated with the redemption of $15.0 million principal amount of the company's 10.875% senior notes.
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%.
“We are pleased with our second quarter sales results as well as our third quarter sales results to date,” said Steven G. Miller, Big 5's Chairman, President and Chief Executive Officer. “Our time-tested and proven business model continues to drive our business in a very positive fashion.”
