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Jan 03, 2021
Big 5 Q4 2020 Earnings Report
Reported strong fourth quarter and full year results driven by top line sales growth and merchandise margin expansion.
Key Takeaways
Big 5 Sporting Goods Corporation reported a strong fourth quarter with record earnings driven by top line sales growth, merchandise margin expansion and an improved cost structure. The company ended the year with a strong cash position and no debt. Same store sales increased 10.5% for the fourth quarter of fiscal 2020.
FY 2020 Fourth Quarter EPS of $0.95
Net sales for the 14-week fiscal 2020 fourth quarter were $290.6 million compared to net sales of $244.1 million for the 13-week fourth quarter of fiscal 2019.
Same store sales increased 10.5% for the fourth quarter of fiscal 2020.
The Company ended the 2020 fiscal year with no borrowings under its credit facility and with cash and cash equivalents of $64.7 million.
Forward Guidance
For the fiscal 2021 first quarter, the Company expects same store sales to increase approximately 20% and expects to realize earnings per diluted share in the range of $0.47 to $0.53, which includes expected non-operational benefits of approximately $0.06 per diluted share related to an insurance claim and elimination of a liability for an employment agreement associated with a related party.
Positive Outlook
- Company expects same store sales to increase approximately 20%.
- Company expects to realize earnings per diluted share in the range of $0.47 to $0.53.
- Guidance includes expected non-operational benefits of approximately $0.06 per diluted share related to an insurance claim.
- Guidance includes expected non-operational benefits of approximately $0.06 per diluted share related to elimination of a liability for an employment agreement associated with a related party.
- The Loan Agreement has a five-year term which matures in February 2026, and provides for a secured revolving credit facility with aggregate committed availability of up to $150 million.
Challenges Ahead
- First quarter of fiscal 2020 had a same store sales decrease of 10.8%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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