Big 5 sees strong third quarter

EL SEGUNDO, Calif. Big 5 Sporting Goods reported that for the fiscal 2009 third quarter, net sales increased to $231.6 million from net sales of $223.2 million for the third quarter of fiscal 2008. As the company previously reported, same-store sales increased 1.6% for the third quarter.

Net income for the third quarter of fiscal 2009 improved to $8 million, or 37 cents per diluted share, from net income of $4.5 million, or 21 cents per diluted share, for the third quarter of fiscal 2008.

"We are pleased to deliver a solid third quarter top and bottom line performance, as our customer value proposition and proven business model continue to produce positive results," said Steven Miller, the company's chairman, president and CEO.

Miller continued, "We are encouraged that the positive sales trends we experienced during the third quarter have continued, and actually improved, thus far in the fourth quarter. For the first five weeks of the quarter, we have comped positively in the low single-digit range. While the critical holiday period is still ahead and consumer spending habits remain unpredictable, we are excited about our product assortment and promotional plans and believe that our ability to provide tremendous values on quality merchandise will position us well during the gift-giving season."

For the fiscal 2009 fourth quarter, the company expects same-store sales in the positive low to low-mid single-digit range and earnings per diluted share in the range of 28 cents to 38 cents. For comparative purposes, the company's earnings per diluted share for the fourth quarter of fiscal 2008 were 17 cents.