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Big Five Q1 income slides 54%
El Segundo, Calif. -- Big 5 Sporting Goods Corp.’s first-quarter net income fell 54% and missed analysts' expectations because of increased expenses as customer traffic declined.
The company also gave a second-quarter earnings outlook much lower than Wall Street's view.
Big 5 reported late Tuesday that it earned $2.8 million for the period ended April 3, down from $5 million a year ago.
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Opinion: The hidden dangers of monitoring returns
For years, many retailers have at least informally been on the lookout for customers who abuse the return transaction process, and in some cases, declined to engage in further business with customers perceived to be engaging in abusive or even fraudulent return transactions. With the recession, and advanced technology, many retailers are either tightening their return transaction policies and/or their processes for identifying abusive return transaction patterns.