Big 5 posts Q4 sales gains, raises guidance

EL SEGUNDO, Calif. Big 5 Sporting Goods reported that for the fiscal 2009 fourth quarter, net sales were $237.6 million, compared with net sales of $219.6 million for the fourth quarter of fiscal 2008. Same-store sales increased 0.1% for the fourth quarter of fiscal 2009.

For the fiscal 2009 full year, net sales increased $30.8 million, or 3.6%, to $895.5 million from $864.7 million for the fiscal 2008 full year. Same-store sales decreased 0.6% for the fiscal 2009 full year.

For the fiscal 2009 fourth quarter, the company expects to realize earnings per diluted share in the range of 28 cents to 30 cents, which is within the company's previously issued guidance range and compares with earnings per diluted share in the prior-year period of 17 cents.  

For the fiscal 2009 full year, the company expects to realize earnings per diluted share in the range of $1.00 to $1.02, which is an increase of over 50% compared with earnings per diluted share of 64 cents in the prior year.  

"We are pleased to deliver our third consecutive quarter of positive same-store sales growth together with a substantial earnings increase over the prior year," said Steven Miller, the company's chairman, president and CEO.  "Although our fourth quarter sales were slightly softer than plan, our merchandise margins exceeded our expectations, increasing 88 basis points for the quarter.  We experienced strength in our hard goods and footwear categories, which comped positively in the low single-digit range for the quarter.  The primary factor in our softer than expected sales was the performance of our winter product categories, which comped negatively in the high single-digit range for the quarter as most of our markets experienced unfavorable winter weather comparisons to the prior year.  This led to our apparel category, which is heavily influenced by the sale of winter products, being down mid-single digits for the quarter."