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Dec 31, 2023
Big 5 Q4 2023 Earnings Report
Big 5 reported a net loss due to macroeconomic challenges and weather conditions impacting sales.
Key Takeaways
Big 5 Sporting Goods Corporation reported a decrease in net sales and same store sales for the fourth quarter of fiscal year 2023. Net sales were $196.3 million, compared to $238.3 million for the same quarter in the previous year. Same store sales decreased by 17.7%. The company reported a net loss of $8.9 million, or $0.41 per basic share, compared to a net income of $1.7 million, or $0.08 per diluted share, in the fourth quarter of fiscal 2022.
Net sales for Q4 2023 were $196.3 million, a decrease from $238.3 million in Q4 2022.
Same store sales decreased by 17.7% compared to the same quarter last year.
The company reported a net loss of $8.9 million, or $0.41 per basic share.
Gross profit for the quarter was $59.2 million, compared to $79.8 million in the prior year.
Big 5
Big 5
Forward Guidance
For the fiscal 2024 first quarter, the Company expects same store sales to decrease in the low double-digit range compared to the fiscal 2023 first quarter. Fiscal 2024 first quarter net loss per basic share is expected in the range of $0.30 to $0.40, which compares to fiscal 2023 first quarter earnings per diluted share of $0.01.