Big 5 reports decline in 1Q comps

EL SEGUNDO, Calif. Big 5 Sporting Goods reported for the fiscal 2008 first quarter, net sales were $212.9 million, compared to net sales of $217 million for the first quarter of fiscal 2007. Same-store sales declined 5.1% for the first quarter.

Net income for the first quarter of fiscal 2008 was $4.1 million, or 19 cents per diluted share, compared to net income of $7.6 million, or 33 cents per diluted share, for the first quarter of fiscal 2007.

"Despite a strong first quarter performance by our winter-related product categories, which benefited in part from favorable weather conditions in many of our markets, we were unable to fully offset the general softness in the overall consumer environment and the substantial impact of very negative sales comparisons in our roller shoe category," said Steven Miller, the company's chairman, president and ceo. 

For the fiscal 2008 second quarter, the company said it expects a decline in same-store sales in the mid-single digit range. The company said it anticipates earnings per share to be in the range of 6 cents to 12 cents. For the full year, the company expects same-store sales in the low to mid-single digit range and earnings per share in the range of 60 cents to 85 cents.