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 ...

PART I – FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201%20Financial%20Statements) The unaudited financial statements reflect significant year-over-year improvement in net income, liquidity, and equity [Unaudited Condensed Consolidated Balance Sheets](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $759.4 million, driven by increased cash, while stockholders' equity rose to $263.0 million Condensed Consolidated Balance Sheet Data (in thousands) | Account | July 4, 2021 | January 3, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $118,940 | $64,654 | | Merchandise inventories, net | $258,905 | $251,180 | | Total current assets | $405,490 | $347,397 | | Total assets | $759,414 | $699,994 | | **Liabilities & Equity** | | | | Total current liabilities | $269,185 | $239,585 | | Total liabilities | $496,463 | $467,356 | | Total stockholders' equity | $262,951 | $232,638 | | Total liabilities and stockholders' equity | $759,414 | $699,994 | [Unaudited Condensed Consolidated Statements of Operations](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Net sales surged to $326.0 million in Q2 2021, driving net income to $36.8 million from $11.1 million year-over-year Statements of Operations Highlights (in thousands, except per share data) | Metric | 13 Weeks Ended July 4, 2021 | 13 Weeks Ended June 28, 2020 | 26 Weeks Ended July 4, 2021 | 26 Weeks Ended June 28, 2020 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $326,020 | $227,935 | $598,826 | $445,671 | | Gross profit | $126,923 | $72,193 | $224,816 | $136,748 | | Operating income | $48,544 | $16,360 | $76,293 | $9,545 | | Net income | $36,803 | $11,136 | $58,349 | $6,525 | | Diluted EPS | $1.63 | $0.52 | $2.59 | $0.31 | [Unaudited Condensed Consolidated Statements of Stockholders' Equity](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity increased to $263.0 million, driven by net income of $58.3 million in the first half of 2021 - For the 26 weeks ended July 4, 2021, total stockholders' equity **increased by $30.3 million**, from $232.6 million to $263.0 million[11](index=11&type=chunk) - Key changes in stockholders' equity for the first half of 2021 include **net income of $58.3 million** and **common stock dividends of $29.7 million** ($1.33 per share)[11](index=11&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations increased significantly to $88.7 million, boosting the total cash balance to $118.9 million Cash Flow Summary (in thousands) | Cash Flow Activity | 26 Weeks Ended July 4, 2021 | 26 Weeks Ended June 28, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $88,738 | $58,230 | | Net cash used in investing activities | ($3,856) | ($3,207) | | Net cash used in financing activities | ($30,596) | ($46,511) | | Net increase in cash and cash equivalents | $54,286 | $8,512 | | Cash and cash equivalents at end of period | $118,940 | $16,735 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, COVID-19 impacts, a new loan agreement, and risks from Nike's supply reduction - The company operates **430 stores** and an e-commerce platform as of July 4, 2021, primarily in the western United States[15](index=15&type=chunk) - Due to the COVID-19 pandemic, the company **temporarily closed over half its stores** in early 2020 but all were reopened by the first half of 2021 with safety protocols[24](index=24&type=chunk) - **Nike, a key supplier representing 8.5% of purchases** in fiscal 2020, is expanding its direct-to-consumer initiatives, which will **significantly reduce the future supply chain** for the company[25](index=25&type=chunk) - On February 24, 2021, the company entered into a **new Loan Agreement** with Bank of America, N.A., providing a revolving credit facility of up to **$150.0 million**[62](index=62&type=chunk) - Subsequent to the quarter end, the Board of Directors declared a **quarterly cash dividend of $0.25 per share**[96](index=96&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=22&type=section&id=Item%202%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes record Q2 2021 net income to strong consumer demand, driving sales growth and margin expansion - The COVID-19 pandemic shifted consumer demand in favor of fitness and outdoor recreational products, which had a **favorable impact on operating results** in late 2020 and the first half of 2021[105](index=105&type=chunk) - Q2 2021 net income was a **historically-high $36.8 million**, or $1.63 per diluted share, compared to $11.1 million, or $0.52 per diluted share, in Q2 2020[112](index=112&type=chunk) - The company's financial condition was significantly enhanced, with **cash and cash equivalents of $118.9 million** and **zero long-term revolving credit borrowings** as of July 4, 2021[107](index=107&type=chunk) - For fiscal 2021, the company anticipates opening approximately five new stores, with capital expenditures expected to range from **$11.0 million to $15.0 million**[111](index=111&type=chunk)[150](index=150&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Q2 2021 net sales increased 43.0% year-over-year, driven by a 31.2% rise in same-store sales and improved margins Q2 2021 vs Q2 2020 Performance (in thousands) | Metric | Q2 2021 | % of Sales | Q2 2020 | % of Sales | | :--- | :--- | :--- | :--- | :--- | | Net sales | $326,020 | 100.0% | $227,935 | 100.0% | | Gross profit | $126,923 | 38.9% | $72,193 | 31.7% | | Operating income | $48,544 | 14.9% | $16,360 | 7.2% | | Net income | $36,803 | 11.3% | $11,136 | 4.9% | - **Same-store sales for Q2 2021 increased by 31.2%** year-over-year, reflecting strong consumer demand and comparison against a period with COVID-19 related store closures in 2020[115](index=115&type=chunk) - **Merchandise margins for Q2 2021 increased by 380 basis points** compared to Q2 2020, primarily due to lower promotional activities and a favorable product sales mix[117](index=117&type=chunk) - Selling and administrative expenses in Q2 2021 increased by $20.1 million, largely due to **higher employee labor and benefit-related expenses**[118](index=118&type=chunk) [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity improved with cash reaching $118.9 million, supported by strong operating cash flow and a new credit facility Cash Flow Summary - First Half (in thousands) | Activity | 2021 | 2020 | | :--- | :--- | :--- | | Operating activities | $88,738 | $58,230 | | Investing activities | ($3,856) | ($3,207) | | Financing activities | ($30,596) | ($46,511) | | Net increase in cash | $54,286 | $8,512 | - The company entered into a new Loan Agreement with Bank of America on February 24, 2021, providing a revolving credit facility of up to **$150.0 million** with a maturity date of February 24, 2026[140](index=140&type=chunk) - In Q2 2021, the Board of Directors declared a **special cash dividend of $1.00 per share** and increased the regular quarterly dividend to $0.18 per share, with a further increase to $0.25 per share for Q3 2021[137](index=137&type=chunk)[152](index=152&type=chunk) - As of July 4, 2021, the company had **zero revolving credit borrowings** and total remaining borrowing availability of **$148.9 million**[136](index=136&type=chunk)[149](index=149&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is not required to provide information for this item - As a smaller reporting company, as defined by Rule 12b-2 of the Exchange Act, the company is **not required to provide information** under this item[163](index=163&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - The CEO and CFO concluded that the company's disclosure controls and procedures are **effective at a reasonable assurance level** as of July 4, 2021[165](index=165&type=chunk) - **No changes occurred** during the fiscal quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[166](index=166&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=34&type=section&id=Item%201%20Legal%20Proceedings) Ongoing legal actions from the ordinary course of business are not expected to have a material adverse effect - The company states that ongoing legal actions from the ordinary course of business are **not expected to have a material adverse effect** on its financial results[168](index=168&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A%20Risk%20Factors) The primary risk factor is the significant reduction in product supply from Nike due to its direct-to-consumer shift - A significant risk is the **reduction of product supply from Nike**, which accounted for **8.5% of total purchases** and 7.2% of total sales in fiscal 2020[170](index=170&type=chunk) - Nike's expansion of its direct-to-consumer strategy will **significantly reduce its supply** to the company, which is actively expanding relationships with other vendors to mitigate this impact[170](index=170&type=chunk) - The transition is **not expected to have a material impact** on sales for fiscal 2021[170](index=170&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=34&type=section&id=Item%202%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section is not applicable for the current reporting period - Not applicable[173](index=173&type=chunk) [Exhibits](index=35&type=section&id=Item%206%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including certifications and XBRL data - Exhibits filed include **CEO/CFO certifications and XBRL data files**[175](index=175&type=chunk)

Financial Data and Key Metrics Changes - The company reported record net sales of $272.8 million for Q1 2021, up from $217.7 million in Q1 2020, reflecting a year-over-year increase of approximately 25.3% [8][12] - Same-store sales increased by 31.8% year-over-year, with January showing a 40% increase and March exceeding 50% [8][10] - Net income for Q1 2021 was $21.5 million, or $0.96 per share, compared to a net loss of $4.6 million, or $0.22 per share, in Q1 2020 [13][26] - Gross profit margin improved to 35.9% from 29.6% in the prior year, driven by a 350 basis point expansion in merchandise margins [24] Business Line Data and Key Metrics Changes - Apparel sales increased by over 40%, footwear sales rose approximately 25%, and hardgoods sales were up nearly 30% [11] - Average sale increased by approximately 20%, with transactions up about 12% [12] Market Data and Key Metrics Changes - The company experienced strong demand across all major merchandise categories, particularly benefiting from winter-related sales [11] - The impact of school reopenings and stimulus checks contributed to increased sales in March [10] Company Strategy and Development Direction - The company announced a 20% increase in its regular quarterly dividend and a special cash dividend of $1 per share, reflecting strong cash flow and a healthy cash position [7][31][32] - The company plans to open approximately five new stores and close two stores, with capital expenditures expected to ramp up to a range of $12 million to $16 million for the fiscal year [28][29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second quarter, with sales running up over 100% compared to 2020, although this is influenced by last year's store closures [18] - The company is confident in its ability to manage costs despite inflationary pressures in labor and product costs [44][45] Other Important Information - The company will no longer receive shipments directly from Nike, which represented approximately 7% of 2020 sales, but does not expect a material impact on 2021 sales [15][16] - The company is encouraged by the response from other vendors to expand their presence in stores following Nike's decision [17] Q&A Session Summary Question: Can you discuss the performance of outdoor and reopening sales categories? - Management noted that all categories, except team sports, performed well during the pandemic, with strong sales in outdoor categories and individual sports [40][42] Question: Have you seen any shifts in consumer behavior post-pandemic? - Management acknowledged a slowdown in some categories but emphasized that overall demand remains stronger than pre-COVID levels [43] Question: Are there any inflationary pressures to watch for? - Management confirmed challenges in the labor market and product costs but indicated they are managing these pressures effectively [44][45] Question: Can you confirm the impact of Nike's decision on sales? - Management confirmed that Nike's decision would not have a significant impact on 2021 sales [46] Question: What was the sales cadence during Q2 last year? - Management provided details on sales trends, indicating a significant turnaround in the second half of Q2 last year [47][48]

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 ...

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 September 27, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from __________________ ...