Big 5 Sporting Goods Misses on the Top and Bottom Lines
Regional sporting goods retailer Big 5 Sporting Goods reported third-quarter results yesterday after the markets closed, showing that it posted net sales of $259.1 million, a near 3% gain from the $251.8 billion in the same period in the previous year, but below the $264.8 million Capital IQ consensus estimate. Shares were up more than 18% this morning.
Net income for the quarter came in at $9.1 million, or $0.41 per share, up 11% from $8.2 million, or $0.38 per share, in the same period in 2012, but $0.03 below the CapIQ estimates of $0.44 per share.
Big 5 gained from a shift in the calendar that brought the July 4 holiday into the third quarter, resulting in certain holiday-related sales moving forward and helping same-store sales rise 1.4% from the year-ago quarter.
The sporting goods retailer expects fourth-quarter same-store sales to be in the low single-digit range and earnings per share to be between $0.20 and $0.28 per share, reflecting expenses related to the development of its new e-commerce platform swiping approximately $0.02 per share from its results. That still puts it in the ballpark of analyst estimates of $0.25 per share.
The article Big 5 Sporting Goods Misses on the Top and Bottom Lines originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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