Lead by holiday apparel sales, Big 5 Sporting Goods Corp. reported an increase Tuesday of 4 percent in fourth quarter same-store sales, a key retail industry measure.
The same store sales increase spurred am 8 percent increase in fourth quarter net income of $7.8 million (34 cents per share), up from $7.2 million (32 cents) for the same period a year earlier.
Quarterly sales for the El Segundo-based sporting goods retailer also increased 7 percent to $235 million, slightly below analysts' expectations of $238 million, according to Thompson financial.
For the year, net income was up 7 percent to $21.2 million (93 cents) while net sales increased 8 percent to $877 million. Same store sales increased 4 percent for the year.
Shares in Big 5 were down 14 cents to $24.26 in midday trading Tuesday. The company operates 343 stores in 10 Western states.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Big Five Misses Expectations
- Slowing Sales Push Down Big 5's Profits
- Big 5 Shares Fall on Earnings
- Big 5’s Quarter Exceeds Expectations
- Investors Back in Sporting Goods Chain’s Camp
- Big 5 Shares Flat After Strong Earnings
- Sporting Goods Chain’s Shares Take Bad Bounce
- Big 5 Rebounds to Post $1 Billion in Revenue