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Apr 04, 2021
Big 5 Q1 2021 Earnings Report
Big 5 reported record first quarter sales and earnings.
Key Takeaways
Big 5 Sporting Goods Corporation reported record first quarter results with a 31.8% increase in same-store sales and EPS of $0.96, driven by strong sales, merchandise margin expansion, and an improved cost structure. The company ended the quarter with $100.1 million in cash and cash equivalents and no debt. They also increased the quarterly cash dividend by 20% to $0.18 per share and declared a special cash dividend of $1.00 per share.
Record first quarter sales and earnings results were achieved.
Same store sales increased 31.8% in FY 2021 first quarter versus guidance of 20%.
EPS was $0.96 for FY 2021 first quarter versus guidance range of $0.47 to $0.53.
The company ended FY 2021 first quarter with $100.1 million in cash and cash equivalents and no debt.
Big 5
Big 5
Forward Guidance
For the second quarter of fiscal year 2021, Big 5 expects same store sales to increase in the range of 22% to 27% and earnings per diluted share to be in the range of $1.05 to $1.25.
Positive Outlook
- The Company expects same store sales to increase in the range of 22% to 27%.
- The Company expects earnings per diluted share in the range of $1.05 to $1.25.
- Second quarter guidance reflects the combined positive impact of calendar shifts of the Easter holiday.
- Second quarter guidance reflects the combined positive impact of the Fourth of July holiday.
- The company currently has 430 stores in operation.
Challenges Ahead
- Forward-looking statements involve known and unknown risks and uncertainties.
- Economic impacts of COVID-19 on Big 5’s business operations.
- Changes in the consumer spending environment.
- Increased competition from e-commerce retailers.
- Changes in laws or regulations, including those related to tariffs and duties.