Big 5 kicks off year with big Q1; plans 10 new stores

El Segundo, Calif. – Big 5 Sporting Goods Corp. kicked off fiscal 2015 with a strong performance in the first quarter. Net income grew 6% year-over-year to $2.3 million from $2.1 million, and would have grown more if not for increased expenses relating to wages and benefits, new stores, and a legal settlement.



Big 5 plans to open approximately 10 net new stores in fiscal 2015, including three in the second quarter.



Net sales climbed 5% to $243.6 million from $231.3 million, aided by a 3.9% increase in same-store sales.



"We are pleased to deliver solid sales and earnings growth for the first quarter," said Steven G. Miller, chairman, president and CEO. "As previously reported, we had a strong start to the quarter with outstanding winter weather conditions in our western U.S. markets. Sales turned negative in February due to the unseasonably warm weather and positive again in March as we moved into the spring season. Our same store sales improved for each of our major product categories of apparel, footwear and hardgoods.”



Looking ahead, Big 5 expects same-store sales to increase in the low to mid-single-digit range during fiscal 2015.