Big 5 Sporting Goods(BGFV) - 2026 Q1 - Quarterly Results

Financial Performance - Net sales for Q1 fiscal 2025 were $175.6 million, down 9.2% from $193.4 million in Q1 fiscal 2024[2] - Same store sales decreased by 7.8% in Q1 fiscal 2025 compared to the same period last year[2] - Gross profit was $54.3 million, with a gross profit margin of 30.9%, down from 31.2% in Q1 fiscal 2024[3] - Selling and administrative expenses were $70.8 million, representing 40.3% of net sales, up from 36.9% in Q1 fiscal 2024[4] - Net loss for Q1 fiscal 2025 was $17.3 million, or $0.78 per basic share, compared to a net loss of $8.3 million, or $0.38 per basic share, in Q1 fiscal 2024[5] - EBITDA was negative $12.0 million for Q1 fiscal 2025, worsening from negative $6.5 million in the prior year[6] Cash and Inventory - The company ended Q1 fiscal 2025 with $30.9 million in borrowings and a cash balance of $3.9 million[8] - Merchandise inventories increased by 6.5% compared to the prior year period[8] Future Outlook - For Q2 fiscal 2025, the company expects same store sales to decline in the low to mid-single digit range[9] - The company plans to close approximately seven additional stores during fiscal 2025, with no new store openings expected[10]