Big 5 Sporting Results Miss Estimates; Q3 Outlook Weak

(RTTNews) - Big 5 Sporting Goods Corp (BGFV) Tuesday reported second-quarter net earnings of $2.5 million or $0.11 per share, compared with $6 million or $0.28 per share last year.

Results for the quarter included impairment charges of $0.02 per share.

The sporting goods retailer's revenue for the quarter was $231 million, compared with $239.9 million in the prior year.

Analysts polled by Thomson Reuters projected earnings of $0.17 per share on revenue of $242.2 million for the quarter. Analysts' estimates typically exclude special items.

Same store sales declined 4.9% for the quarter.

Gross margin slid to 32.7% from 33.2% in the prior year.

For the third quarter, the company expects earnings of $0.24 to $0.32.per share, while analysts expect $0.48 per share.

The company expects same store sales in the slightly negative to low positive single-digit range for the quarter.

The company declared a quarterly cash dividend of $0.10 per share.