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Oct 01, 2023
Big 5 Q3 2023 Earnings Report
Big 5's Q3 2023 results reflected increasing pressure on consumer discretionary spending, with sales slightly below expectations, while merchandise margins and expense control were optimized.
Key Takeaways
Big 5 Sporting Goods Corporation reported net sales of $239.9 million for the third quarter of fiscal 2023, a decrease compared to $261.4 million in the same period of the prior year. Same store sales decreased by 8.2%. Net income was $1.9 million, or $0.08 per diluted share, compared to $6.4 million, or $0.29 per diluted share, in the third quarter of fiscal 2022.
Net sales for Q3 2023 were $239.9 million, down from $261.4 million in Q3 2022.
Same store sales decreased by 8.2% compared to the same quarter last year.
Net income for Q3 2023 was $1.9 million, or $0.08 per diluted share, a decrease from $6.4 million, or $0.29 per diluted share, in Q3 2022.
The company declared a quarterly cash dividend of $0.125 per share.
Big 5
Big 5
Forward Guidance
For the fiscal 2023 fourth quarter, the Company expects same store sales to decrease in the high single-digit to low double-digit range compared to the fiscal 2022 fourth quarter. Fiscal 2023 fourth quarter net loss per share is expected in the range of $0.20 to $0.35.