Shares of Big 5 Sporting Goods Corporation (NASDAQ: BGFV) below -1.83% and ended at $8.05. The stock’s market capitalization arrived at $172.399M and total traded volume was 210,576 shares. The stock has a 52-week highest price of $13.40 and its 52-week lowest price was called at $5.05. During last trade, its maximum trading price was registered $8.23 and it’s the minimum trading price was noted $8.05.
Big 5 Sporting Goods Corporation (BGFV) recently stated financial results for the fiscal 2018 first quarter ended April 1, 2018.
Net sales for the fiscal 2018 first quarter were $234.2M contrast to net sales of $252.6M for the first quarter of fiscal 2017. Same store sales reduced 7.5% for the first quarter of fiscal 2018. This compares to a 7.9% raise in same store sales for the first quarter of fiscal 2017. Sales comparisons to the previous year reflect a small negative effect from the calendar shift of the Easter holiday, during which the Company’s stores are closed, out of the second quarter of fiscal 2017 and into the first quarter of fiscal 2018.
Gross profit for the fiscal 2018 first quarter was $72.7M, contrast to $83.6M in the first quarter of the previous year. The Company’s gross profit margin was 31.1% in the fiscal 2018 first quarter versus 33.1% in the first quarter of the previous year, reflecting a decrease in merchandise margins of 58 basis points and higher store occupancy expense as a percentage of net sales. For comparison purposes, merchandise margins raised by 228 basis points in the first quarter of last year.
Selling and administrative expense as a percentage of net sales was 31.4% in the fiscal 2018 first quarter versus 29.5% in the first quarter of the previous year. Overall selling and administrative expense for the quarter reduced $1.1M from the previous year primarily Because of lower advertising expense.
Net loss for the first quarter of fiscal 2018 was $1.3M, or $0.06 per share, including a charge of $0.01 per share for the write-off of deferred tax assets related to share-based compensation. For the first quarter of fiscal 2017, net income was $5.3M, or $0.24 per diluted share.
Quarterly Cash Dividend
The Company’s Board of Directors has reported a quarterly cash dividend of $0.15 per share of outstanding ordinary stock, which will be paid on June 15, 2018 to stockholders of record as of June 1, 2018.
During the fiscal 2018 first quarter, pursuant to its share repurchase program, the Company repurchased 75,748 shares of its ordinary stock for a total expenditure of $0.4M. As of April 1, 2018, the Company had $15.3M accessible for future repurchases under its $25.0M share repurchase program.
For the fiscal 2018 second quarter, the Company expects same store sales to be in the flat to positive low single-digit range and earnings per diluted share to be in the range of $0.04 to $0.12, contrast to a same store sales raise of 0.8% and earnings per diluted share of $0.13 in the second quarter of fiscal 2017.
During the first quarter of fiscal 2018, the Company did not open or close any stores. During the fiscal 2018 second quarter, the Company anticipates opening two stores and closing two stores, including one closure related to a relocation. For the fiscal 2018 full year, the Company presently anticipates opening about eight new stores and closing about three stores.
The company has the institutional ownership of 79.40% while the Beta factor was -0.67. The stock’s RSI amounts to 42.70. (BGFV) stock price showed weak performance of -3.59% in last seven days, switched down -4.17% in last thirty days and it fell -39.47% in last one year. EPS growth ratio for the past five years was -15.00% while Sales growth for the past five years was 1.40%.