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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 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 2, 2022 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 chart ...

Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q2 2022 Earnings Conference Call August 2, 2022 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 2020 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 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 3, 2022 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 charter) ...

Financial Data and Key Metrics Changes - The company reported net sales of $242 million for Q1 2022, down from $272.8 million in Q1 2021, reflecting a decrease of 11.4% in same-store sales compared to the previous year, but flat compared to 2019 [8][15] - Gross profit for Q1 2022 was $85.9 million, with a gross profit margin of 35.5%, slightly down from 35.9% in Q1 2021, but significantly up from 30.9% in Q1 2019 [16] - Net income for Q1 2022 was $9.1 million or $0.41 per diluted share, compared to $21.5 million or $0.96 per diluted share in Q1 2021, but higher than $0.08 in Q1 2019 [18] Business Line Data and Key Metrics Changes - Merchandise margins for Q1 2022 were up 119 basis points compared to Q1 2021 and up 461 basis points compared to Q1 2019, indicating strong performance across product categories [9][15] - Selling and administrative expenses increased by $5.2 million year-over-year, primarily due to inflation impacting labor and benefits, with SG&A as a percentage of net sales rising to 31.1% in Q1 2022 from 25.7% in Q1 2021 [17] Market Data and Key Metrics Changes - The company faced headwinds in January and March due to unfavorable weather and the Omicron surge, with January sales down in the low 20% range and March down in low double digits compared to a strong March 2021 [10][11] - In Q2 2022 to date, same-store sales are running down in the mid-20% range compared to last year, but up approximately 10% compared to 2019 [12] Company Strategy and Development Direction - The company aims to capitalize on favorable product trends and expanded merchandise margins while maintaining a strong balance sheet with no debt, providing financial flexibility [6][7] - The company plans to open approximately 4 new stores and close about 2 stores in fiscal 2022, with capital expenditures expected to be between $14 million and $18 million [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ability to continue capitalizing on recent drivers of success, including favorable product trends and reduced advertising spend [13] - The company anticipates challenging year-over-year comparisons in Q2 2022 due to last year's record sales but expects higher net income than any pre-pandemic second quarter [22] Other Important Information - The company ended Q1 2022 with a cash balance of $62 million and zero borrowings under its credit facility, down from $97.4 million at the end of fiscal 2021 [21] - A quarterly cash dividend of $0.25 per share was declared by the Board of Directors [21] Q&A Session Summary Question: What is the expected tax rate for Q2? - The expected tax rate for Q2 is 26% [24] Question: Can you discuss margins and trends in soft goods versus hard goods? - Management noted strong margins across all product categories, with Q1 margins up significantly compared to previous years [25] Question: Are there any inventory concerns or stock shortages? - Management indicated that winter gear is the primary carryover, and while there are some supply chain issues, overall inventory levels are normalized and well-positioned for the summer season [27][28]

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 3, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from _____________________ t ...

Financial Data and Key Metrics Changes - The company reported net sales of $273.4 million for Q4 2021, a decrease from $290.6 million in Q4 2020, attributed to one less week in the fiscal calendar [8][19] - Same-store sales increased by 0.2% in Q4 2021 compared to Q4 2020 and by 10.6% compared to Q4 2019 [9][19] - Gross profit for Q4 2021 was $103 million, with a gross profit margin of 37.7%, up from 35.2% in Q4 2020 [20] - Net income for Q4 2021 was $19.9 million, or $0.89 per diluted share, compared to $21 million, or $0.95 per diluted share in Q4 2020 [22][23] - Full year net sales reached a record $1.16 billion, up from $1.04 billion in the previous year, with a same-store sales increase of 13.9% [23] Business Line Data and Key Metrics Changes - Apparel and footwear categories showed double-digit growth compared to the previous year, while hard goods declined low double digits [11] - Merchandise margins increased by 194 basis points compared to Q4 2020 and by 437 basis points compared to Q4 2019 [12] Market Data and Key Metrics Changes - Monthly sales trends were mixed, with October showing slight growth, November declining due to warm weather and supply chain issues, and December rebounding with mid-single-digit growth [10] Company Strategy and Development Direction - The company announced a new stock repurchase authorization of $25 million, reflecting a commitment to returning capital to shareholders [7][29] - The company plans to open approximately six new stores and close two in fiscal 2022, indicating a controlled growth strategy [26][42] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges such as supply chain disruptions and labor pressures but expressed confidence in the company's ability to adapt and thrive [32] - For Q1 2022, the company expects same-store sales to decrease by 10% to 13%, with earnings per diluted share projected between $0.30 and $0.40 [30] Other Important Information - The company ended fiscal 2021 with zero borrowings and a cash balance of $97.4 million, an increase from $64.7 million at the end of fiscal 2020 [28] Q&A Session Summary Question: Can you walk through what's implied in your guidance regarding gross profit margins for Q1? - Management discussed the impact of merchandise margins and labor pressures on distribution costs, indicating challenges in leveraging distribution costs in Q1 [34][36] Question: How should we think about merchandise margins for the remainder of the year? - Management believes they can maintain merchandise margins significantly above pre-pandemic levels due to changes in their advertising model and supply-demand dynamics [38][39] Question: Are there opportunities for more store expansion beyond 2022? - Management confirmed they are evaluating opportunities for store growth, focusing on both infill and new market opportunities [41][42] Question: Will share repurchase be prioritized over special dividends? - Management indicated that share repurchase remains opportunistic, and dividends are still an important part of their strategy [43]