Big 5 Sporting Goods Q4 Same Store Sales Up 10.5%; EPS To Exceed High End Of Prior Guidance

(RTTNews) - Big 5 Sporting Goods Corporation (BGFV) reported that, for the 14-week fourth quarter, net sales were $290.5 million compared to $244.1 million for the 13-week fourth quarter of prior year. Same store sales increased 10.5% for the fourth quarter.

For the fourth quarter, the company now expects earnings per share in the range of $0.90 to $0.93, including a benefit of $0.10 per share related to a favorable insurance settlement and a benefit of $0.02 per share related to a reduction in deferred tax asset valuation allowance, which compares to the company's previous guidance for earnings per share in the range of $0.35 to $0.60.

For the 53-week fiscal 2020, net sales increased to $1.04 billion compared to net sales of $996.5 million for the 52-week fiscal 2019. Same store sales rose 3.0%.

For fiscal 2020, the company now expects earnings per share in the range of $2.53 to $2.56, including a benefit of $0.25 per share, reflecting the $0.12 per share benefit and a $0.13 per share net benefit in the second quarter of fiscal 2020.