Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q4 2023 Earnings Conference Call February 27, 2024 5:00 PM ET Company Participants Steven Miller - President and Chief Executive Officer Barry Emerson - Chief Financial Officer Conference Call Participants Operator Good day, ladies and gentlemen. Welcome to the Big 5 Sporting Goods Fourth Quarter 2023 Earnings Results Conference Call. Today's call is being recorded. With us today are Mr. Steve Miller, President and Chief Executive Officer; and Mr. Barry Emerson ...

EL SEGUNDO, Calif., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Big 5 Sporting Goods Corporation (NASDAQ:BGFV) (the "Company," "we," "our," "us," "Big 5"), a leading sporting goods retailer, today reported sales results for the fiscal 2023 fourth quarter and full year ended December 31, 2023. For the fiscal 2023 fourth quarter, net sales were $196.3 million compared to net sales of $238.3 million for the fourth quarter of fiscal 2022. Same store sales decreased 17.7% for the fourth quarter of fiscal 2023 compared to ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q3 2023 Earnings Call Transcript October 31, 2023 5:00 PM ET Company Participants Steve Miller - President and Chief Executive Officer Barry Emerson - Chief Financial Officer Conference Call Participants Mark Smith - Lake Street Capital Operator Good day, ladies and gentlemen. Welcome to the Big 5 Sporting Goods Third Quarter 2023 Earnings Results Conference Call. Today's call is being recorded. With us today are Mr. Steve Miller, President and Chief Executive ...

The Company files a consolidated federal income tax return and files tax returns in various state and local jurisdictions. The statutes of limitations for consolidated federal income tax returns are open for fiscal years 2019 and after, and state and local income tax returns are open for fiscal years 2018 and after. Recovery of Insurance Proceeds Share option awards granted by the Company generally vest and become exercisable in four equal annual installments of 25% per year with a maximum life of ten years ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET Company Participants Steve Miller - President and CEO Barry Emerson - Chief Financial Officer Conference Call Participants Mark Smith - Lake Street Capital Operator Good day, ladies and gentlemen. Welcome to the Big 5 Sporting Goods Second Quarter 2023 Earnings Results Conference Call. Today’s call is being recorded. With us today are Mr. Steve Miller, President and Chief Executive Officer; and Mr. Barr ...

FORM 10-Q BIG 5 SPORTING GOODS CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------|-------------------------------------------------------| | 2525 East El Segundo Boulevard El Segundo, California \n(Address of Pri ...

Financial Data and Key Metrics Changes - Net sales for the first quarter of fiscal 2023 were $224.9 million, down from $242 million in the first quarter of 2022, reflecting a decrease in same-store sales of 7.1% [44][41] - Gross profit for the first quarter was $75.1 million, compared to $85.9 million in the prior year, with a gross profit margin of 33.4%, down from 35.5% [47][44] - Net income for the first quarter was $0.2 million or $0.01 per diluted share, a significant decline from $9.1 million or $0.41 per diluted share in the same period last year [48][44] - EBITDA totaled $4.5 million for the first quarter, compared to $15 million in the first quarter of the previous year [39] Business Line Data and Key Metrics Changes - The apparel category saw an increase in sales in the high single-digit range, driven by winter-related sales [29] - The footwear category experienced a decline in mid-single digits, while hard goods were down in the mid-teens range due to significant rainfall impacting sales [29] Market Data and Key Metrics Changes - Sales in the second quarter are running down approximately 11% compared to the previous year, indicating a soft start to the quarter [5][20] - Transactions for the quarter were down mid-single digits, with the average ticket down low single digits [35] Company Strategy and Development Direction - The company is focused on maintaining strong merchandise margins and managing expenses in a challenging high-inflation environment [46][32] - For fiscal 2023, the company expects to open approximately 5 new stores, relocate 1 store, and close about 5 stores, reflecting ongoing evaluation of store performance [40][25] Management's Comments on Operating Environment and Future Outlook - Management noted that macroeconomic conditions, including the regional bank crisis and lower tax refunds, have impacted consumer spending [4] - The company anticipates same-store sales to decrease in the high single-digit range for the second quarter, reflecting ongoing macroeconomic headwinds [41][5] Other Important Information - Merchandise inventory was up 5.3% year-over-year, primarily due to supply chain disruptions from the previous year [7] - The balance sheet remains strong with zero borrowings under the credit facility and $27.5 million in cash, up $1.9 million from the end of fiscal year 2022 [50] Q&A Session Summary Question: Confirmation of sales decline - Mark Smith confirmed that sales are running down 11% quarter to date, which was affirmed by management [20][21] Question: Impact of weather vs. macro pressures - Management indicated that macro pressures are the overriding factor affecting sales, although weather also played a role [22][23] Question: Concerns about inventory due to weather - Management expressed confidence in their inventory management, particularly regarding baseball products, indicating no concerns about holding inventory [24] Question: Store closures and lease evaluations - Management clarified that the decision to increase store closures from 4 to 5 was based on lease evaluations and optimizing the store base [25]

Cash and Cash Equivalents The Company's merchandise inventories are valued at the lower of cost or net realizable value using the weighted-average cost method that approximates the first-in, first-out ("FIFO") method. Average cost includes the direct purchase price of merchandise inventory, net of vendor allowances and cash discounts, in-bound freight-related expense and allocated overhead expense associated with the Company's distribution center. These reserves are estimates, which could vary significantly ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q4 2022 Earnings Conference Call February 28, 2023 5:00 PM ET Company Participants Steve Miller - President & CEO Barry Emerson - EVP & CFO Conference Call Participants Mark Smith - Lake Street Capital Markets Operator Good day, ladies and gentlemen and welcome to the Big 5 Sporting Goods Fourth Quarter 2022 Earnings Results Conference Call. Today's call is being recorded. With us today are Mr. Steve Miller, President and Chief Executive Officer; and Mr. Barry ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q3 2022 Earnings Conference Call November 1, 2022 5:00 PM ET Company Participants Steve Miller - President & Chief Executive Officer Barry Emerson - Executive Vice President & Chief Financial Officer Conference Call Participants Mark Smith - Lake Street Capital Markets Operator Good day, ladies and gentlemen and welcome to the Big 5 Sporting Goods Third Quarter of 2022 Earnings Results Conference Call. Today's call is being recorded. With us today are Mr. Steve ...