Big 5’s Sale and Net Income Decline in 3Q

El Segundo, Calif. Big 5 Sporting Goods reported net sales of $223.2 million for the third quarter, down from $231.3 million in the year-ago period. Same-store sales declined 6.6%. Net income was $4.5 million for the quarter, compared to net income of $8.4 million last year.

"We are pleased with the relative strength of our performance in this challenging consumer environment, as we delivered third-quarter earnings that exceeded the high end of our guidance," said chairman, president and CEO Steven G. Miller. "By focusing on managing our inventory and controlling expenses, we continued to mitigate the impact of the difficult macroeconomic environment on our sales. We achieved increased efficiencies in our distribution center and reduced total product inventories by 4.9% from the prior year, despite operating 19 more stores.