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EL SEGUNDO, Calif. - Big 5 Sporting Goods Corporation (NASDAQ:BGFV) reported fourth quarter earnings that fell short of analyst estimates, but its stock rose 2.9% in after-hours trading Tuesday.
The sporting goods retailer posted a net loss of $20.9 million, or $0.95 per share, for Q4 2024, compared to a loss of $8.9 million, or $0.41 per share, in the same quarter last year. Analysts had expected a smaller loss of $0.19 per share.
Revenue dropped 7.5% YoY to $181.6 million, missing the consensus estimate of $210.3 million. Same-store sales decreased 6.1% compared to Q4 2023.
"Our fourth quarter performance was consistent with our previously announced expectations, delivering earnings in the middle of our guidance range, reflecting our ability to manage margins and expenses in the challenging sales environment," said Steven G. Miller, Chairman, President and CEO.
For Q1 2025, Big 5 expects same-store sales to decline in the mid to high single digit range. The company forecasts a net loss per share between $0.75 and $0.85, compared to a loss of $0.38 per share in Q1 2024.
The company ended Q4 with $13.8 million in borrowings under its credit facility and a cash balance of $5.4 million. Merchandise inventories decreased 5.6% YoY as Big 5 worked to manage inventory levels relative to sales.
Big 5 currently operates 414 stores, having closed 8 locations in Q1 2025. It plans to close approximately 7 more stores during the remainder of fiscal 2025 and does not expect to open any new stores.
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