Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q4 2021 Earnings Conference Call March 1, 2022 5:00 PM ET Company Participants Steven Miller - Chairman, President and Chief Executive Officer Barry Emerson - Executive Vice President, Chief Financial Officer, Treasurer and Assistant Secretary Conference Call Participants Mark Smith - Lake Street Capital Markets Operator Good day, ladies and gentlemen. Welcome to the Big 5 Sporting Goods Fourth Quarter 2021 Earnings Results Conference Call. Today's call is bein ...

Sales Performance - Net sales for fiscal 2021 increased by 11.6% to $1,161.8 million compared to $1,041.2 million in fiscal 2020[147] - Same store sales for fiscal 2021 increased by 13.9% compared to the prior year[147] - Net sales increased by $120.6 million (11.6%) to $1,161.8 million in fiscal 2021, driven by a 13.9% increase in same-store sales[152] - Strong consumer demand in fiscal 2021, particularly for team sports products, contributed to higher sales and margins[162] Gross Profit and Margins - Gross profit for fiscal 2021 represented 37.5% of net sales, up from 33.5% in fiscal 2020[147] - Gross profit rose by $86.6 million to $435.8 million (37.5% of net sales) in fiscal 2021, with merchandise margins improving by 250 basis points[154] - Inflation in product purchase costs and freight costs in fiscal 2021 and 2020 led to adjustments in selling prices, with potential future impacts on merchandise margins if price adjustments cannot be maintained[195] Selling and Administrative Expenses - Selling and administrative expense for fiscal 2021 increased by 8.9% to $299.8 million, or 25.8% of net sales[147] - Selling and administrative expenses increased by $24.4 million (8.9%) to $299.8 million, primarily due to higher employee labor and benefit-related costs[155] Net Income and Earnings - Net income for fiscal 2021 was $102.4 million, or $4.55 per diluted share, compared to $55.9 million, or $2.58 per diluted share, in fiscal 2020[147] - Operating income grew to $136.0 million (11.7% of net sales) in fiscal 2021, up from $76.3 million (7.2%) in fiscal 2020[152] - Net income increased to $102.4 million (8.8% of net sales) in fiscal 2021, compared to $55.9 million (5.2%) in fiscal 2020[152] Cash Flow and Liquidity - Operating cash flow for fiscal 2021 was $115.5 million, down from $148.7 million in fiscal 2020[148] - Cash and cash equivalents were $97.4 million as of January 2, 2022, compared to $64.7 million as of January 3, 2021[148] - Operating cash flows for fiscal 2021 were $115.5 million, a decrease from $148.7 million in fiscal 2020 due to increased inventory funding[165] - Cash and cash equivalents at the end of fiscal 2021 were $97.4 million, up from $64.7 million in fiscal 2020[161] - Financing cash flows for fiscal 2021 were a negative $72.1 million, primarily used for dividend payments, treasury stock purchases, and finance lease payments[168] - As of January 2, 2022, the company had no revolving credit borrowings and letter of credit commitments of $1.1 million outstanding, compared to $2.6 million as of January 3, 2021[169] Capital Expenditures - Capital expenditures for fiscal 2021 increased to $10.9 million from $7.3 million in fiscal 2020[148] - Capital expenditures in fiscal 2021 were $10.9 million, primarily for store remodeling, new store openings, and distribution center equipment[166] - Capital expenditures for fiscal 2021 totaled $10.864 million, including $5.381 million for store-related remodels and $2.727 million for new stores[167] - The company expects capital expenditures for fiscal 2022 to range from $15.0 million to $20.0 million, primarily for new stores, store-related remodeling, and distribution center equipment[183] Dividends and Share Repurchases - The company paid cash dividends of $61.8 million in fiscal 2021, up from $5.5 million in fiscal 2020[148] - The company repurchased 361,323 shares of common stock for $7.6 million in fiscal 2021[148] - Quarterly cash dividends increased from $0.05 per share in fiscal 2020 to $0.25 per share in fiscal 2021, with special dividends of $1.00 per share declared in the second and fourth quarters of fiscal 2021[170] - The company repurchased 361,323 shares of common stock in fiscal 2021, totaling $49.4 million since the inception of the share repurchase program in May 2006[172] - Annual cash dividends paid in fiscal 2021 were $2.83 per share, including special dividends of $2.00 per share, compared to $0.25 per share in fiscal 2020[185] - A new share repurchase program of up to $25.0 million was authorized in the first quarter of fiscal 2022, replacing the previous program[186] Tax and Financial Commitments - The effective tax rate for fiscal 2021 was 24.2%, slightly lower than the 24.8% rate in fiscal 2020[159] - The new Loan Agreement provides for a revolving credit facility with an aggregate committed availability of up to $150.0 million, with a $50.0 million sublimit for letters of credit[174] - Operating lease commitments include retail store facilities, distribution centers, and corporate offices, with options to extend terms and renegotiate upon expiration[187] Inventory and Seasonal Fluctuations - Inventory valuation reserves for damaged, slow-moving, or obsolete merchandise totaled $2.7 million as of January 2, 2022, and $3.5 million as of January 3, 2021, representing approximately 1% of merchandise inventory for both periods[191] - A 10% change in inventory valuation reserves as of January 2, 2022, would result in a $0.3 million change in reserves and pre-tax earnings[192] - Seasonal fluctuations in net sales impact buying patterns, merchandise levels, and cash flows, with higher inventory purchase volumes and expenses in the fourth fiscal quarter[194]

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q3 2021 Earnings Conference Call November 2, 2021 5:00 PM ET Company Participants Steve Miller - President & CEO Barry Emerson - CFO Conference Call Participants Mark Smith - Lake Street Capital Operator Good day, ladies and gentlemen, and welcome to the Big 5 Sporting Goods Third Quarter 2021 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, Chief F ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value BGFV The Nasdaq Stock Market LLC FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 3, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _____________________ ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q2 2021 Earnings Conference Call August 3, 2021 5:00 PM ET Company Participants Steve Miller - President & 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' Second Quarter 2021 Earnings Results Conference Call. Today's call is being recorded. With us today are Mr. Steve Miller, President and Chief Executive Of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value BGFV The Nasdaq Stock Market LLC FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 4, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _____________________ to ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q1 2021 Results Conference Call May 4, 2021 5:00 PM ET Company Participants Steve Miller - President and CEO Barry Emerson - CFO Conference Call Participants Mark Smith - Lake Street Capital Operator Good day, ladies and gentlemen. Welcome to the Big 5 Sporting Goods First Quarter 2021 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, Chief Financia ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value BGFV The Nasdaq Stock Market LLC FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 4, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _____________________ t ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q4 2020 Earnings Conference Call March 2, 2020 5:00 PM ET Company Participants Steve Miller - President and CEO Barry Emerson - CFO Conference Call Participants Mark Smith - Lake Street Capital Partners Operator Good day, ladies and gentlemen. Welcome to the Big 5 Sporting Goods Fourth Quarter 2020 Earnings Results Conference Call. Today's call is being recorded. With us today are Mr. Steve Miller, President and Chief Executive Officer; Mr. Barry Emerson, Chief ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 3, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________________ to ______________________ Commission file number: 000-49850 BIG 5 SPORTING GOODS CORPORATION (Exact name of registrant as specified in its char ...