Big 5 Sporting Goods reports like-for-like sales slide
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Big 5 Sporting Goods saw its same-store sales slide in its fourth and final quarter of the financial year.
The El Segundo, California-based retailer, which operates 429 stores in 12 mostly western states, blamed the dip on the anticipated impact of ‘cycling’ against the surge of firearms and ammunition sales last year.
Like-for-like store sales – used as a barometer of the overall health of a company – were down 0.5% compared to the same quarter last year. However, net sales were up 5.6%.
Steven G. Miller, Big 5’s Chairman, said that as well as the drop in firearms-related sales, the company’s performance had also been hampered by the ‘unfortunate’ lack of winter weather across its western markets.
He added: “Given the challenges that we faced during the quarter and the highly-promotional retail environment, we feel pleased that we appear positioned to deliver another quarter of earnings growth through improved product margins and controlled operating expenses.”
The company expects to issue earnings results for the 2013 fourth quarter and full year by the end of February.