Big 5 Sporting Goods Falls 8%, Misses Q4 Expectations

Big 5 Sporting Goods Corporation BGFV reported sales results Monday for the fiscal 2014 fourth quarter and full year ended December 28, 2014.

Net sales came in at $250.3 million, below estimates of $258.02 million and above the net sales of $248.0 million reported for the fourth quarter of fiscal 2013.

Same store sales decreased 0.5 percent for the fourth quarter of fiscal 2014. 

The Company's merchandise margins decreased approximately 10 basis points in the fiscal 2014 fourth quarter from the fourth quarter of fiscal 2013.

For the fiscal 2014 fourth quarter, the Company now expects to realize earnings per diluted share in the range of $0.14 to $0.16, analysts had expected Q4 EPS of $0.21.

The EPS range includes $0.01 per diluted share of anticipated non-cash impairment charges, $0.01 per diluted share of expenses associated with the development of the Company's e-commerce platform and $0.01 per diluted share for a legal settlement charge.

For the fiscal 2014 full year, net sales decreased to $977.9 million from $993.3 million for the prior year. Same store sales decreased 2.9 percent for the fiscal 2014 full year.

"After producing same store sales in the positive low single-digit range for our October and November periods, our holiday period sales declined in the low single-digit range, which brought our fourth quarter sales below expectations," said Steven G. Miller, the Company's Chairman, President and Chief Executive Officer.

Big 5 Sporting Goods Corporation traded at $11.90 in the after hours session, down 8.25 percent.