Deutsche Bank Forecasts Big 5 Sporting Goods Sales of $230.7MM

In a report released this morning, Deutsche Bank said that it is forecasting Big 5 Sporting Goods Corporation

sales of $230.7mm on comps of 1%. “As FY09 had a 53rd week, the reporting calendar has been skewed during FY10 and each quarter will be impacted,” Deutsche Bank writes. “This is expected to negatively impact sales by approximately $7mm during 3Q10, though this will not impact comps, as these are reported on a week over week basis regardless of which quarter they fall in year over year.” Deutsche Bank said that its $15 PT is based on a 12x multiple to its FY11 EPS forecast. Big 5 Sporting Goods closed Friday at $13.52.