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Mar 31, 2024
Big 5 Q1 2024 Earnings Report
Big 5 Sporting Goods Corporation reported first quarter results, reflecting a challenging macroeconomic environment.
Key Takeaways
Big 5 Sporting Goods Corporation reported a decrease in net sales to $193.4 million compared to $224.9 million in the first quarter of fiscal 2023. Same store sales decreased by 13.5%. The company reported a net loss of $8.3 million, or $0.38 per basic share, compared to a net income of $0.2 million, or $0.01 per diluted share in the first quarter of fiscal 2023.
Net sales for the first quarter were $193.4 million, a decrease from $224.9 million in the prior year.
Same store sales decreased by 13.5% compared to the first quarter of fiscal 2023.
Gross profit was $60.4 million, compared to $75.1 million in the prior year.
Net loss for the quarter was $8.3 million, or $0.38 per basic share.
Big 5
Big 5
Forward Guidance
For the fiscal 2024 second quarter, the Company expects same store sales to decrease in the high single-digit range compared to the fiscal 2023 second quarter. Fiscal 2024 second quarter net loss per basic share is expected in the range of $0.40 to $0.55, which compares to fiscal 2023 second quarter net loss per basic share of $0.01.