- Same store sales increased 1.1% for the fourth quarter of fiscal 2018
For the fiscal 2018 fourth quarter, net sales were
For the fiscal 2018 full year, net sales decreased to
Total merchandise inventories were down approximately 7.0% at year-end versus the prior year, reflecting a significant reduction of winter product inventory as well as the Company’s efforts to optimize inventory levels across its product assortment. Fiscal year-end debt levels decreased by approximately
For the fiscal 2018 fourth quarter, the Company now expects to realize a loss per share in the range of
“After same store sales decreased in the low-single-digit range in October and November, same store sales increased in the mid-single-digit range during our December period,” said
Mr. Miller continued, “We are pleased that the positive weather comparisons and resulting momentum in our winter product categories have continued into January, providing a strong sales start to our new year and allowing us to sell through our winter inventory at favorable margins.”
The Company expects to issue earnings results for the fiscal 2018 fourth quarter and full year by the end of February.
About Big 5 Sporting Goods Corporation
Big 5 is a leading sporting goods retailer in the western
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause Big 5’s actual results in current or future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, changes in the consumer spending environment, fluctuations in consumer holiday spending patterns, increased competition from e-commerce retailers, breach of data security or other unauthorized disclosure of sensitive personal or confidential information, the competitive environment in the sporting goods industry in general and in Big 5’s specific market areas, inflation, product availability and growth opportunities, changes in the current market for (or regulation of) firearm-related products, disruption in product flow, seasonal fluctuations, weather conditions, changes in cost of goods, operating expense fluctuations, increases in labor and benefit-related expense, changes in laws or regulations, including those related to tariffs and duties, lower than expected profitability of Big 5’s e-commerce platform or cannibalization of sales from Big 5’s existing store base which could occur as a result of operating the e-commerce platform, litigation risks, stockholder campaigns and proxy contests, risks related to Big 5’s leveraged financial condition, changes in interest rates, credit availability, higher expense associated with sources of credit resulting from uncertainty in financial markets and economic conditions in general. Those and other risks and uncertainties are more fully described in Big 5’s filings with the
Contact:
Sr. Vice President and Chief Financial Officer
(310) 536-0611
Managing Partner
(646) 277-1254
Source: Big 5 Sporting Goods Corporation