Big 5 posts higher sales
Big 5 Sporting Goods Corporation has reported higher sales for its fourth quarter and full year ended January 3.
For the fourth quarter, net sales were $237.6 million compared with $219.6 million during the fourth quarter of fiscal 2008. Gross profit was $80.8 million compared with $71.3 million during the prior-year period, while net income was $6.4 million compared with $3.6 million.
For the full year, net sales increased $30.8 million, or 3.6%, to $895.5 million from $864.7 million. Net income was $21.8 million compared with $13.9 million the previous year.
"We are pleased with our fourth-quarter and full-year results, which reflect the strength of our unique business model and solid execution by our team," said Steven Miller, the company's chairman, president and chief executive officer. "We have enjoyed positive sales trends during the first quarter of fiscal 2010 to date, as we have benefitted from favourable weather conditions in many of our markets.”
However, he adds a note of caution: “While we are encouraged by the start of our current quarter, we recognise that the economy remains challenging and the uncertainty experienced in the consumer environment over the last few years has continued into 2010. We remain confident in our overall business approach, and plan to continue to focus on driving sales and managing expenses while strategically increasing our store growth during the year ahead."
