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Jun 30, 2024
Big 5 Q2 2024 Earnings Report
Second quarter results were consistent with guidance, but impacted by inflationary pressures
Key Takeaways
Big 5 Sporting Goods Corporation reported a net sales decrease to $199.8 million compared to $223.6 million in the same quarter last year. The company experienced a net loss of $10.0 million, or $0.46 per basic share, compared to a net loss of $0.3 million, or $0.01 per basic share in the second quarter of fiscal 2023. Same store sales decreased 9.9%.
Net sales for the fiscal 2024 second quarter were $199.8 million, compared to $223.6 million for the second quarter of fiscal 2023.
Same store sales decreased 9.9% for the second quarter of fiscal 2024.
Net loss for the second quarter of fiscal 2024 was $10.0 million, or $0.46 per basic share.
The Company’s Board of Directors has proactively suspended the quarterly cash dividend.
Big 5
Big 5
Forward Guidance
For the fiscal 2024 third quarter, the Company expects same store sales to decrease in the mid single-digit range compared to the fiscal 2023 third quarter. Fiscal 2024 third quarter net loss per basic share is expected in the range of $0.15 to $0.35, which compares to fiscal 2023 third quarter net income per diluted share of $0.08.