- Fourth Quarter Similar Retail outlet Sales Enhanced .2% vs . 2020 and 10.6% vs. 2019
- Fourth Quarter EPS Expected in the Range of $.84 to $.86, Exceeding Large Stop of Prior Direction Range
- Record Fiscal 2021 Whole Yr EPS Envisioned in the Assortment of $4.50 to $4.52
EL SEGUNDO, Calif., Jan. 13, 2022 (Globe NEWSWIRE) — Huge 5 Sporting Goods Corporation (Nasdaq: BGFV) (the “Company,” “we,” “our,” “us,” “Big 5”), a major sporting merchandise retailer, currently claimed net gross sales effects for the fiscal 2021 fourth quarter and entire calendar year ended January 2, 2022.
For the 13-7 days fiscal 2021 fourth quarter, net income have been $273.4 million as opposed to net sales of $290.6 million for the 14-week fourth quarter of fiscal 2020. Same retail store gross sales amplified .2% for the fourth quarter of fiscal 2021 compared to the fourth quarter of fiscal 2020 and greater 10.6% in comparison to the fourth quarter of fiscal 2019. The Company’s goods margins increased by approximately 194 foundation details for the fourth quarter of fiscal 2021 in comparison to the fourth quarter of fiscal 2020 and greater by close to 437 foundation details as opposed to the fourth quarter of fiscal 2019.
For the 52-7 days fiscal 2021 full 12 months, internet sales elevated to $1.16 billion as opposed to internet income of $1.04 billion for the 53-week fiscal 2020. Same retail store product sales elevated 13.9% for the fiscal 2021 full calendar year in contrast to fiscal 2020 and improved 17.5% as opposed to fiscal 2019. The Company’s items margins elevated by approximately 250 foundation details for the fiscal 2021 full 12 months in comparison to fiscal 2020 and amplified by somewhere around 440 basis details as opposed to fiscal 2019.
As a end result of the Company’s fiscal calendar, the fourth quarter of fiscal 2021 included 13 weeks, the fourth quarter of fiscal 2020 included 14 weeks, the fiscal 2021 total calendar year integrated 52 months and the fiscal 2020 entire 12 months involved 53 weeks. The Company’s exact same retail outlet product sales effects for the fourth quarter replicate equivalent 13-week intervals, and for the total yr reflect comparable 52-7 days durations.
For the fiscal 2021 fourth quarter, the Enterprise now expects to crank out earnings for every diluted share in the vary of $.84 to $.86, which compares to the Company’s previous guidance for the fourth quarter of earnings for every diluted share in the selection of $.55 to $.70. For the fiscal 2021 complete year, the Enterprise now expects to generate earnings for every diluted share in the variety of $4.50 to $4.52, like a earlier noted internet gain of $.06 for every diluted share. For reasons of comparison to the prior year, for the fiscal 2020 fourth quarter the Corporation understood earnings for each diluted share of $.95, which included a earlier reported advantage of $.12 for each diluted share, and for the fiscal 2020 entire yr the Organization recognized earnings for each diluted share of $2.58, which bundled a previously documented web reward of $.25 for every diluted share. Economic outcomes for the fiscal 2021 fourth quarter and total yr are unaudited, preliminary and subject to remaining yr-finish accounting entries.
Throughout fiscal 2021, the Enterprise returned to shareholders more than $69 million in benefit by means of a blend of frequent and particular funds dividends and open up-industry inventory repurchases. In the fiscal 2021 fourth quarter, the Business repurchased 260,825 shares of its popular inventory.
The Enterprise finished the 2021 fiscal calendar year with no borrowings beneath its credit facility and with hard cash and cash equivalents of somewhere around $97.4 million. The calendar year-conclusion money harmony for fiscal 2021 compares to no borrowings under the Company’s credit facility and $64.7 million of funds and money equivalents as of the stop of the 2020 fiscal yr. Whole goods inventories greater by about 7.1% as of the conclude of fiscal 2021 compared to the stop of the prior fiscal year.
“We be expecting to supply fourth quarter outcomes solidly over the large close of our earnings direction, pushed in aspect by a sturdy margin efficiency that was substantially in advance of our approach. Our fourth quarter general performance highlighted another file calendar year of revenue and earnings for Big 5, with 2021 earnings for each share predicted to surpass final year’s then-history results by roughly 75%,” mentioned Steven G. Miller, the Company’s Chairman, President and Chief Executive Officer. “Throughout the year, our staff did a tremendous task of navigating through supply chain and staffing challenges involved with the pandemic. Although concerns bordering the pandemic are ongoing, we imagine the business is in a great situation heading into 2022 and are confident that our products providing and easy retailer encounter will keep on to resonate with our prospects.”
The Company expects to concern earnings results for the fiscal 2021 fourth quarter and comprehensive 12 months in early March 2022.
About Big 5 Sporting Products Corporation
Major 5 is a leading sporting items retailer in the western United States, working 431 outlets under the “Big 5 Sporting Goods” title as of the fiscal quarter finished January 2, 2022. Big 5 supplies a entire-line product presenting in a traditional sporting merchandise retail outlet format that averages 11,000 sq. toes. Large 5’s products blend involves athletic shoes, apparel and extras, as perfectly as a wide range of out of doors and athletic equipment for staff sports activities, health and fitness, tenting, looking, fishing, dwelling recreation, tennis, golfing, and wintertime and summertime recreation.
Besides for historic info contained herein, the statements in this release are forward-wanting and designed pursuant to the risk-free harbor provisions of the Non-public Securities Litigation Reform Act of 1995. Ahead-on the lookout statements contain regarded and unidentified threats and uncertainties and other factors that may possibly bring about Massive 5’s actual success in latest or foreseeable future periods to differ materially from forecasted success. These dangers and uncertainties involve, between other issues, the economic impacts of COVID-19, like any probable variants, on Massive 5’s small business functions, which includes as a end result of regulations that may well be issued in reaction to COVID-19, alterations in the consumer spending surroundings, fluctuations in buyer vacation expending patterns, enhanced competitors from e-commerce merchants, breach of knowledge safety or other unauthorized disclosure of sensitive private or private details, the aggressive ecosystem in the sporting merchandise field in typical and in Large 5’s distinct current market spots, inflation, item availability and progress alternatives, modifications in the latest market place for (or regulation of) firearm-related merchandise, a reduction or reduction of product or service from a vital supplier, disruption in merchandise move, seasonal fluctuations, weather problems, alterations in expense of goods, working price fluctuations, will increase in labor and profit-related expense, changes in guidelines or polices, which include all those related to tariffs and duties, public overall health difficulties (which include people induced by COVID-19 or any potential variants), impacts from civil unrest or prevalent vandalism, lower than predicted profitability of Massive 5’s e-commerce platform or cannibalization of revenue from Huge 5’s current retailer base which could happen as a end result of working the e-commerce system, litigation challenges, stockholder campaigns and proxy contests, hazards associated to Significant 5’s traditionally leveraged financial issue, improvements in fascination charges, credit rating availability, larger expenditure linked with resources of credit score resulting from uncertainty in monetary markets and financial circumstances in standard. Those and other pitfalls and uncertainties are far more entirely described in Large 5’s filings with the Securities and Exchange Fee, such as its Annual Studies on Sort 10-K and Quarterly Reports on Form 10-Q. Massive 5 conducts its organization in a very competitive and fast transforming natural environment. Appropriately, new possibility variables could come up. It is not probable for management to predict all these kinds of hazard things, nor to assess the effects of all this sort of hazard factors on Huge 5’s business enterprise or the extent to which any personal hazard variable, or combination of things, could lead to effects to differ materially from all those contained in any ahead-searching assertion. Big 5 undertakes no obligation to revise or update any forward-on the lookout statement that might be produced from time to time by it or on its behalf.
Make contact with:
Massive 5 Sporting Products Corporation
Barry Emerson
Government Vice President and Main Economical Officer
(310) 536-0611
ICR, Inc.
John Mills
Running Spouse
(646) 277-1254
