Big 5 Sporting Goods Corporation Announces Fiscal 2025 First Quarter Results
Big 5 Sporting Goods reported challenging first quarter 2025 results, with net sales declining to $175.6 million from $193.4 million in Q1 2024. Same-store sales dropped 7.8%, while gross profit decreased to $54.3 million with a margin of 30.9%.
The company posted a significant net loss of $17.3 million ($0.78 per basic share), compared to an $8.3 million loss in Q1 2024. EBITDA was negative $12.0 million. Key challenges included macroeconomic headwinds affecting consumer spending and adverse weather impacts on winter-related sales.
Looking ahead, Big 5 expects Q2 2025 same-store sales to decline in the low to mid-single digits, with projected losses between $0.75 to $0.90 per basic share. The retailer closed 8 stores in Q1 and plans to close 7 more stores in 2025, currently operating 414 locations.
Big 5 Sporting Goods ha riportato risultati difficili nel primo trimestre 2025, con vendite nette in calo a 175,6 milioni di dollari rispetto ai 193,4 milioni del primo trimestre 2024. Le vendite a parità di negozi sono diminuite del 7,8%, mentre il profitto lordo è sceso a 54,3 milioni di dollari con un margine del 30,9%.
L'azienda ha registrato una perdita netta significativa di 17,3 milioni di dollari (0,78 dollari per azione base), rispetto a una perdita di 8,3 milioni nel primo trimestre 2024. L'EBITDA è stato negativo per 12,0 milioni. Le principali difficoltà sono state dovute a venti contrari macroeconomici che hanno influenzato la spesa dei consumatori e condizioni meteorologiche avverse che hanno impattato le vendite invernali.
Guardando al futuro, Big 5 prevede che le vendite a parità di negozi nel secondo trimestre 2025 diminuiranno di una percentuale compresa tra cifre basse e medie a singola cifra, con perdite previste tra 0,75 e 0,90 dollari per azione base. Il rivenditore ha chiuso 8 negozi nel primo trimestre e prevede di chiuderne altri 7 nel 2025, operando attualmente in 414 sedi.
Big 5 Sporting Goods reportó resultados desafiantes en el primer trimestre de 2025, con ventas netas que disminuyeron a 175,6 millones de dólares desde 193,4 millones en el primer trimestre de 2024. Las ventas en tiendas comparables cayeron un 7,8%, mientras que la ganancia bruta se redujo a 54,3 millones de dólares con un margen del 30,9%.
La empresa registró una pérdida neta significativa de 17,3 millones de dólares (0,78 dólares por acción básica), en comparación con una pérdida de 8,3 millones en el primer trimestre de 2024. El EBITDA fue negativo en 12,0 millones. Los principales desafíos incluyeron vientos macroeconómicos adversos que afectaron el gasto del consumidor y condiciones climáticas desfavorables que impactaron las ventas relacionadas con el invierno.
De cara al futuro, Big 5 espera que las ventas en tiendas comparables del segundo trimestre de 2025 disminuyan en un dígito bajo a medio, con pérdidas proyectadas entre 0,75 y 0,90 dólares por acción básica. El minorista cerró 8 tiendas en el primer trimestre y planea cerrar 7 más en 2025, operando actualmente 414 ubicaciones.
Big 5 Sporting Goods는 2025년 1분기 실적에서 도전적인 결과를 보고했으며, 순매출이 2024년 1분기 1억 9,340만 달러에서 1억 7,560만 달러로 감소했습니다. 동일 점포 매출은 7.8% 하락했고, 총이익은 5,430만 달러로 마진은 30.9%를 기록했습니다.
회사는 2024년 1분기 830만 달러 손실과 비교해 1,730만 달러의 큰 순손실(기본 주당 0.78달러)을 기록했습니다. EBITDA는 -1,200만 달러였습니다. 주요 어려움은 소비자 지출에 영향을 미친 거시경제 역풍과 겨울 관련 판매에 부정적인 영향을 준 악천후였습니다.
앞으로 Big 5는 2025년 2분기 동일 점포 매출이 낮은 한 자리 수에서 중간 수준의 하락을 예상하며, 기본 주당 0.75~0.90달러의 손실을 전망하고 있습니다. 소매업체는 1분기에 8개 매장을 폐쇄했으며, 2025년에는 7개 매장을 추가로 폐쇄할 계획이며 현재 414개 매장을 운영 중입니다.
Big 5 Sporting Goods a annoncé des résultats difficiles pour le premier trimestre 2025, avec un chiffre d'affaires net en baisse à 175,6 millions de dollars contre 193,4 millions au premier trimestre 2024. Les ventes comparables ont chuté de 7,8 %, tandis que le bénéfice brut a diminué à 54,3 millions de dollars avec une marge de 30,9 %.
L'entreprise a enregistré une perte nette importante de 17,3 millions de dollars (0,78 dollar par action de base), contre une perte de 8,3 millions au premier trimestre 2024. L'EBITDA était négatif à hauteur de 12,0 millions. Les principales difficultés comprenaient des vents contraires macroéconomiques affectant les dépenses des consommateurs et des conditions météorologiques défavorables impactant les ventes liées à l'hiver.
Pour l'avenir, Big 5 prévoit que les ventes comparables du deuxième trimestre 2025 diminueront de quelques pourcents à un chiffre moyen, avec des pertes projetées entre 0,75 et 0,90 dollar par action de base. Le détaillant a fermé 8 magasins au premier trimestre et prévoit d'en fermer 7 autres en 2025, exploitant actuellement 414 points de vente.
Big 5 Sporting Goods meldete herausfordernde Ergebnisse für das erste Quartal 2025, mit einem Rückgang des Nettoumsatzes auf 175,6 Millionen US-Dollar gegenüber 193,4 Millionen im ersten Quartal 2024. Die Umsätze in vergleichbaren Filialen sanken um 7,8 %, während der Bruttogewinn auf 54,3 Millionen US-Dollar mit einer Marge von 30,9 % zurückging.
Das Unternehmen verzeichnete einen erheblichen Nettoverlust von 17,3 Millionen US-Dollar (0,78 US-Dollar pro Basisaktie) im Vergleich zu einem Verlust von 8,3 Millionen im ersten Quartal 2024. Das EBITDA war mit minus 12,0 Millionen negativ. Zu den wesentlichen Herausforderungen zählten makroökonomische Gegenwinde, die das Verbraucherverhalten beeinträchtigten, sowie ungünstige Wetterbedingungen, die sich negativ auf den Winterumsatz auswirkten.
Für die Zukunft erwartet Big 5, dass die Umsätze in vergleichbaren Filialen im Zweiten Quartal 2025 im niedrigen bis mittleren einstelligen Bereich zurückgehen werden, mit prognostizierten Verlusten zwischen 0,75 und 0,90 US-Dollar pro Basisaktie. Der Einzelhändler schloss im ersten Quartal 8 Filialen und plant, im Jahr 2025 weitere 7 Filialen zu schließen; derzeit betreibt er 414 Standorte.
- Cost control measures showing results with $0.6M reduction in selling and administrative expenses
- Strong credit facility with $150M available, only $30.9M borrowed
- Sequential sales improvement observed in March 2025
- Strategic inventory management with early receipt timing ahead of potential tariff increases
- Net sales declined 9.2% to $175.6M vs $193.4M in Q1 2024
- Same store sales decreased 7.8% year-over-year
- Gross profit margin contracted to 30.9% from 31.2%
- Net loss widened to $17.3M ($0.78/share) from $8.3M ($0.38/share)
- EBITDA deteriorated to -$12.0M from -$6.5M year-over-year
- 8 store closures in Q1 2025 with 7 more planned
- No new store openings planned for 2025
- Expecting continued negative same-store sales in Q2 (low to mid-single digit decline)
- Q2 2025 projected losses of $0.75-$0.90 per share vs $0.46 loss in Q2 2024
Insights
Big 5 reports worsening financial performance with deepening losses, declining sales, and continued store closures amid challenging consumer environment.
Big 5 Sporting Goods' Q1 2025 results show significant deterioration in financial performance. Net sales declined
Particularly concerning is the negative EBITDA of
The company's store optimization strategy continues with 8 store closures in Q1 and approximately 7 more planned for the remainder of fiscal 2025, with no new stores planned. This shrinking footprint reflects the company's stated efforts to optimize its store base in response to market conditions.
Management's outlook remains cautious, forecasting continued sales declines in Q2 with same-store sales expected to decrease in the low to mid-single digits. The projected Q2 loss of
The
EL SEGUNDO, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- Big 5 Sporting Goods Corporation (Nasdaq: BGFV) (the “Company,” “we,” “our,” “us,” “Big 5”), a leading sporting goods retailer, today reported financial results for the fiscal 2025 first quarter ended March 30, 2025.
Net sales were
Gross profit for the fiscal 2025 first quarter was
Overall selling and administrative expense for the quarter decreased by
Net loss for the first quarter of fiscal 2025 was
EBITDA was a negative
Steven G. Miller, Chairman, President and CEO, commented, “Our first quarter performance was in line with our guidance, which reflected an expectation of ongoing macroeconomic headwinds affecting consumer discretionary spending. While challenging weather conditions impacted our winter-related sales early in the quarter, particularly across our southern markets, we saw meaningful sequential improvement in March. Although we anticipate our customer base will remain challenged over the balance of the second quarter, we believe we will benefit from fresh seasonal spring and summer product that we brought in ahead of potential tariff increases. We remain focused on delivering value to our increasingly price-conscious consumers while maintaining disciplined operational execution.”
Balance Sheet
The Company ended the 2025 fiscal first quarter with
Second Quarter Guidance
For the fiscal 2025 second quarter, the Company expects same store sales to be down in the low to mid-single digit range compared to the fiscal 2024 second quarter. The Company’s same store sales guidance reflects an expectation that macroeconomic headwinds will continue to impact discretionary consumer spending over the balance of the second quarter. This guidance also reflects the combined negative impact of calendar shifts associated with the Easter holiday, during which the Company’s stores are closed, from the first quarter of fiscal 2024 and into the second quarter of fiscal 2025, and with the Fourth of July holiday, which will move one day further into the third quarter this year. Fiscal 2025 second quarter net loss per basic share is expected in the range of
Store Openings and Closings
The Company currently has 414 stores in operation, reflecting eight store closures in the 2025 first quarter as part of the Company’s ongoing efforts to optimize its store base. During the remainder of fiscal 2025, the Company expects to close approximately seven additional stores and does not expect to open any new stores.
Conference Call Information
The Company will host a conference call to discuss these results and provide additional comments and details. The conference call is scheduled to begin at 2:00 p.m. Pacific Time on Tuesday, April 29, 2025. To access the conference call, participants in North America may dial (877) 407-9039 and international participants may dial (201) 689-8470. Participants are encouraged to dial in to the conference call ten minutes prior to the scheduled start time.
In addition, the call will be broadcast live over the Internet and accessible through the Company's website at www.big5sportinggoods.com. Visitors to the website should select the “Investor Relations” link to access the webcast. The webcast will be archived and accessible on the same website for 30 days following the call. A telephonic replay will be available through Tuesday, May 6, 2025, by calling (844) 512-2921 to access the playback; the passcode is 13753021.
About Big 5 Sporting Goods Corporation
Big 5 is a leading sporting goods retailer in the western United States, currently operating 414 stores under the “Big 5 Sporting Goods” name. Big 5 provides a full-line product offering in a traditional sporting goods store format that averages 12,000 square feet. Big 5’s product mix includes athletic shoes, apparel and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, home recreation, tennis, golf, and winter and summer recreation.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause Big 5’s actual results in current or future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, the economic impacts of public health issues (including COVID-19 or any potential variants), on Big 5’s business operations, including as a result of regulations that may be issued in response to COVID-19, global supply chain disruptions resulting from the ongoing conflict in Ukraine and the Middle East, changes in the consumer spending environment, fluctuations in consumer holiday spending patterns, increased competition from e-commerce retailers, breach of data security or other unauthorized disclosure of sensitive personal or confidential information, the competitive environment in the sporting goods industry in general and in Big 5’s specific market areas, inflation, product availability and growth opportunities, changes in the current market for (or regulation of) firearm-related products, a reduction or loss of product from a key supplier, disruption in product flow, seasonal fluctuations, weather conditions, changes in cost of goods, operating expense fluctuations, increases in labor and benefit-related expense, changes in laws or regulations, including those related to tariffs and duties, as well as environmental, social and governance issues, public health issues (including those caused by COVID-19 or any potential variants), impacts from civil unrest or widespread vandalism, lower than expected profitability of Big 5’s e-commerce platform or cannibalization of sales from Big 5’s existing store base which could occur as a result of operating the e-commerce platform, litigation risks, stockholder campaigns and proxy contests, risks related to Big 5’s historically leveraged financial condition, changes in interest rates, credit availability, higher expense associated with sources of credit resulting from uncertainty in financial markets, our ability to reverse valuation allowances on deferred tax assets, and economic conditions in general. Those and other risks and uncertainties are more fully described in Big 5’s filings with the Securities and Exchange Commission, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Big 5 conducts its business in a highly competitive and rapidly changing environment. Accordingly, new risk factors may arise. It is not possible for management to predict all such risk factors, nor to assess the impact of all such risk factors on Big 5’s business or the extent to which any individual risk factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Big 5 undertakes no obligation to revise or update any forward-looking statement that may be made from time to time by it or on its behalf.
Non-GAAP Financial Measures
In addition to reporting our financial results in accordance with generally accepted accounting principles ("GAAP"), we are providing non-GAAP earnings before interest, income tax expense, depreciation and amortization (“EBITDA”) and any other adjustments (“Adjusted EBITDA”). EBITDA and Adjusted EBITDA are not prepared in accordance with GAAP and exclude certain items presented below. We use EBITDA and Adjusted EBITDA internally for forecasting purposes and as factors to evaluate our operating performance. We believe that Adjusted EBITDA provides useful information to both management and investors by excluding certain expenses, gains and losses that may not be indicative of core operating results and business outlook. While we believe that EBITDA and Adjusted EBITDA can be useful to investors in evaluating our period-to-period operating results, this information should be considered supplemental and is not a substitute for financial information prepared in accordance with GAAP. In addition, our definition or calculation of these non-GAAP measures may differ from similarly titled measures used by other companies, limiting the usefulness of this financial measure for comparison to other companies. We believe the GAAP measure that is most comparable to non-GAAP EBITDA and Adjusted EBITDA is net (loss) income, and a reconciliation of our non-GAAP EBITDA and Adjusted EBITDA to GAAP net (loss) income is provided below.
| 13 Weeks Ended | |||||||||
| March 30, 2025 | March 31, 2024 | ||||||||
| (In Thousands) | |||||||||
| GAAP net loss (as reported) | $ | (17,250 | ) | $ | (8,286 | ) | |||
| + Interest expense (as reported) | 812 | 123 | |||||||
| + Income tax expense (benefit) (as reported) | 1 | (2,818 | ) | ||||||
| + Depreciation and amortization (as reported) | 4,433 | 4,517 | |||||||
| EBITDA | $ | (12,004 | ) | $ | (6,464 | ) | |||
| Adjusted EBITDA | $ | (12,004 | ) | $ | (6,464 | ) | |||
In the second quarter of fiscal 2024, as it became more material, we began to include amortization costs associated with software as a service contracts with depreciation and amortization to compute EBITDA. Accordingly, the prior period reported amount of depreciation and amortization has been adjusted to conform with current period presentation.
| BIG 5 SPORTING GOODS CORPORATION | ||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| (Unaudited) | ||||||
| (In thousands, except share amounts) | ||||||
| March 30, 2025 | December 29, 2024 | |||||
| ASSETS | ||||||
| Current assets: | ||||||
| Cash | $ | 3,948 | $ | 5,418 | ||
| Accounts receivable, net of allowances of | 8,270 | 10,252 | ||||
| Merchandise inventories, net | 293,682 | 260,307 | ||||
| Prepaid expenses | 9,239 | 10,192 | ||||
| Total current assets | 315,139 | 286,169 | ||||
| Operating lease right-of-use assets, net | 253,827 | 261,887 | ||||
| Property and equipment, net | 50,050 | 51,788 | ||||
| Other assets, net of accumulated amortization of | 9,291 | 9,522 | ||||
| Total assets | $ | 628,307 | $ | 609,366 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 98,229 | $ | 69,728 | ||
| Accrued expenses | 57,480 | 58,946 | ||||
| Current portion of operating lease liabilities | 68,841 | 70,288 | ||||
| Current portion of finance lease liabilities | 3,780 | 3,642 | ||||
| Total current liabilities | 228,330 | 202,604 | ||||
| Operating lease liabilities, less current portion | 195,677 | 202,894 | ||||
| Finance lease liabilities, less current portion | 8,493 | 8,558 | ||||
| Long-term debt | 30,882 | 13,756 | ||||
| Other long-term liabilities | 5,988 | 5,943 | ||||
| Total liabilities | 469,370 | 433,755 | ||||
| Commitments and contingencies | ||||||
| Stockholders' equity: | ||||||
| Common stock, | ||||||
| 26,998,880 shares, respectively; outstanding 22,855,063 and 22,691,625 shares, respectively | 271 | 269 | ||||
| Additional paid-in capital | 131,783 | 131,215 | ||||
| Retained earnings | 81,140 | 98,384 | ||||
| Less: Treasury stock, at cost; 4,307,255 shares | (54,257 | ) | (54,257 | ) | ||
| Total stockholders' equity | 158,937 | 175,611 | ||||
| Total liabilities and stockholders' equity | $ | 628,307 | $ | 609,366 | ||
| BIG 5 SPORTING GOODS CORPORATION | ||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
| (Unaudited) | ||||||
| (In thousands, except per share data) | ||||||
| 13 Weeks Ended | ||||||
| March 30, 2025 | March 31, 2024 | |||||
| Net sales | $ | 175,647 | $ | 193,427 | ||
| Cost of sales | 121,319 | 133,029 | ||||
| Gross profit | 54,328 | 60,398 | ||||
| Selling and administrative expense | 70,765 | 71,379 | ||||
| Operating loss | (16,437 | ) | (10,981 | ) | ||
| Interest expense | 812 | 123 | ||||
| Loss before income taxes | (17,249 | ) | (11,104 | ) | ||
| Income tax expense (benefit) | 1 | (2,818 | ) | |||
| Net loss | $ | (17,250 | ) | $ | (8,286 | ) |
| Loss per share: | ||||||
| Basic | $ | (0.78 | ) | $ | (0.38 | ) |
| Diluted | $ | (0.78 | ) | $ | (0.38 | ) |
| Weighted-average shares of common stock outstanding: | ||||||
| Basic | 22,023 | 21,832 | ||||
| Diluted | 22,023 | 21,832 | ||||
Contact:
Big 5 Sporting Goods Corporation
Barry Emerson
Executive Vice President and Chief Financial Officer
(310) 536-0611
ICR, Inc.
Jeff Sonnek
Managing Director
(646) 277-1263
FAQ
What caused Big 5 Sporting Goods (BGFV) stock loss in Q1 2025?
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