Big 5 Sporting Goods Corp. reported first-quarter net income of $7.6 million (33 cents per share), a 29 percent increase from $5.9 million (26 cents) in the same period a year earlier, beating analysts’ expectations of 32 cents per share, according to a poll by Thomson Financial.

Sales for the El Segundo-based sporting goods retailer grew 5 percent to $217 million, falling short of Wall Street’s prediction of $219 million.

Big 5 Chief Executive Steven Miller said the rise in net income was mainly due to wider profit margins, which rose to 36 percent from 35.4 percent a year ago. In addition, the company reported a 1 percent hike in same-store sales for the quarter.

Shares of Big 5 closed down $2.07, or nearly 8 percent, to $24.10 Friday on the Nasdaq.