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Big 5 Sporting Goods(BGFV) - 2020 Q2 - Quarterly Report
2019-07-31 17:44
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 June 30, 2019 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(BGFV) - 2019 Q2 - Earnings Call Transcript
2019-07-30 23:00
Financial Data and Key Metrics Changes - For Q2 2019, net sales were $241 million, slightly up from $240 million in the prior year period, with same-store sales increasing by 0.7% [7][21] - The gross profit margin for Q2 2019 was 30.3%, down from 31.4% in Q2 2018, primarily due to an 80-basis point contraction in merchandise margins [19] - Net income for Q2 2019 was $28,000 or $0.00 per diluted share, compared to a net loss of $0.2 million or $0.01 per share in Q2 2018 [21] - Operating cash flow improved to a positive $5.6 million in the first half of fiscal 2019, compared to a negative $21.9 million in the prior year period [26] Business Line Data and Key Metrics Changes - Hardgoods category sales were up low-mid single digits, driven by strong ammunition sales [9] - Apparel category sales were down low-single digits, impacted by soft licensed apparel sales, although excluding licensed apparel, the category comped positively [10] - Footwear category sales were down in the low-mid single-digit range, but trends improved over the quarter [10] Market Data and Key Metrics Changes - The company experienced a slight decrease in customer transactions but a modest increase in average sales compared to the prior year [11] - Sales comparisons were negatively impacted by cooler-than-normal temperatures affecting summer-related products [8] Company Strategy and Development Direction - The company plans to open approximately 4 stores and close about 5 stores in 2019, reflecting efforts to optimize the store base [12] - The focus remains on managing costs, inventory, and other assets to maintain a healthy balance sheet and capitalize on opportunities [17] Management's Comments on Operating Environment and Future Outlook - Management noted that July sales were running down low-single digits compared to the prior year, with expectations for more favorable comparisons later in the quarter [13] - The company is optimistic about promotional plans and inventory positioning to drive positive sales [16] - Management highlighted the importance of mitigating cost pressures and maintaining a favorable SG&A result [17] Other Important Information - The company declared a quarterly cash dividend of $0.05 per share for Q3 2019 [27] - Capital expenditures for fiscal 2019 are expected to be approximately $9 million to $13 million [25] Q&A Session Summary Question: What are the expectations for same-store sales in Q3? - The company expects same-store sales to be in the flat-to-positive low-single-digit range for Q3 2019 [28]
Big 5 Sporting Goods(BGFV) - 2020 Q1 - Quarterly Report
2019-05-01 18:21
Financial Performance - Net sales for the thirteen weeks ended March 31, 2019, were $245.286 million, an increase of 4.7% compared to $234.178 million for the same period in 2018[6] - Gross profit for the same period was $75.876 million, representing a gross margin of 30.9%, up from $72.726 million and a gross margin of 31.0% in 2018[6] - Operating income improved to $3.265 million compared to a loss of $0.762 million in the prior year, marking a significant turnaround[6] - Net income for the quarter was $1.664 million, compared to a net loss of $1.309 million in the same quarter of 2018[6] - Basic earnings per share were $0.08, compared to a loss of $0.06 per share in the prior year[6] - Cash flows from operating activities generated $12,540,000, a substantial improvement from a cash outflow of $8,927,000 in the previous year[12] - The company paid dividends of $1,221 during the quarter, down from $3,308 in the same period last year, reflecting a strategic adjustment in capital allocation[11] Assets and Liabilities - Total current assets decreased to $319.449 million from $325.073 million as of December 30, 2018[4] - Total liabilities increased significantly to $489.573 million from $244.700 million at the end of the previous year[4] - Cash and cash equivalents decreased to $5.299 million from $6.765 million as of December 30, 2018[4] - Merchandise inventories increased slightly to $296.239 million from $294.900 million[4] - Stockholders' equity rose to $175.435 million from $174.861 million, reflecting a stable financial position[4] Store Operations - The company operated 433 stores as of March 31, 2019, maintaining its position as a leading sporting goods retailer in the western United States[13] - Hard goods sales were $103.4 million, athletic and sport footwear sales were $71.2 million, and athletic and sport apparel sales were $68.6 million for the same period[26] Lease and Asset Management - Operating lease right-of-use assets recognized upon adoption of ASC 842 amounted to $262.9 million, with corresponding lease liabilities of $279.7 million[20] - Total lease expense for the 13 weeks ended March 31, 2019, was $20.4 million, which included $19.8 million for operating lease expense[57] - The Company’s operating leases have remaining reasonably certain lease terms of up to 12 years, typically including options to extend for up to 5 years[51] - The total undiscounted cash flows for operating leases were $317.831 million as of March 31, 2019[59] Shareholder Information - The company declared a quarterly cash dividend of $0.05 per share, payable on June 14, 2019[92] - As of March 31, 2019, there were 544,950 outstanding share option awards with a weighted average exercise price of $6.14[81] - The aggregate intrinsic value of the outstanding share options was based on the closing stock price of $3.18 as of March 31, 2019[81] - The company recognized $0.5 million in share-based compensation expense for the 13 weeks ended March 31, 2019, down from $0.6 million in the same period of 2018[79] Legal and Regulatory Matters - The company is involved in various claims and legal actions, but management believes these will not materially affect its financial condition[78] - The Company has a valuation allowance for deferred income tax assets of $1.2 million related to unused California Enterprise Zone Tax Credits[70] Future Outlook - The company plans to adopt ASU No. 2018-13 in the first quarter of fiscal 2020, expecting the impact to be immaterial[21]
Big 5 Sporting Goods(BGFV) - 2019 Q1 - Earnings Call Transcript
2019-04-30 23:06
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q1 2019 Earnings Conference Call April 30, 2019 5:00 PM ET Â Company Participants Steven Miller - Chairman, President and Chief Executive Officer Barry Emerson - Senior Vice President and Chief Financial Officer Operator Good day, ladies and gentlemen, thank you for standing by. Welcome to the Big 5 Sporting Goods First Quarter 2019 Earnings Results Conference Call. TodayÂ's call is being recorded. With us today are Mr. Steve Miller, President and Chief Executi ...
Big 5 Sporting Goods(BGFV) - 2018 Q4 - Annual Report
2019-02-27 19:20
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 December 30, 2018 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 ...
Big 5 Sporting Goods(BGFV) - 2018 Q4 - Earnings Call Transcript
2019-02-26 23:16
Big 5 Sporting Goods Corporation (NASDAQ:BGFV) Q4 2018 Earnings Conference Call February 26, 2019 5:00 PM ET Company Participants Steven Miller - Chairman, President & CEO Barry Emerson - SVP, CFO & Treasurer Conference Call Participants David Schick - Consumer Edge Research Operator Good day, ladies and gentlemen, thank you for standing by. Welcome to the Big 5 Sporting Goods Fourth Quarter 2018 Earnings Results Conference Call. Today's call is being recorded. With us today are Mr. Steve Miller, President ...