Big 5 Sporting Goods Corp. reported that net sales for its 13-week fourth quarter ended January 1 were $217.1 million, versus net sales of $217.6 million for the 14-week fiscal 2004 fourth quarter. Same-store sales, based on a comparable 13-week basis for both years, increased 1.5%. Total net sales increased 5.1% utilizing the same comparisons.
BGFV said that unfavorable winter weather comparisons in California and the Southwest, which were partially offset by favorable winter weather comparisons in the Northwest, impacted the results. Management said sales of non-winter-related products were “generally in line” with expectations for the quarter.
Total net sales for the 52-week year increased 3.8% to $812.1 million from $782.2 million for the 53-week fiscal 2004 year. On a comparable 52-week basis for both fiscal 2005 and 2004, net sales increased 5.7% and same-store sales increased 2.4% for the year.
But BGFV shares were sent lower last week as higher-than-anticipated costs related to the ongoing transition to a new distribution center are expected to reduce Q4 diluted EPS by approximately six cents from the company's previous guidance. Big 5 now estimates fourth quarter diluted EPS in the range of 32 cents to 35 cents per share versus previous guidance of 40 cents to 44 cents per diluted share.
