Big 5 Sporting Good Ltd. (NASDAQ: (BGFV) stock gained by 8.21% at the last close whereas the BGFV stock price plunge by 3.50% in the pre-market trading session. Big 5 Sporting Goods is a large sporting goods store in the western United States, with 429 locations as of the fiscal quarter ended October 3, 2021.
BGFV stock’ Financial Update
Big 5 Sporting Goods Corporation released its financial results for the third quarter of the fiscal year 2021. The summary is given below:
- Net sales during the third quarter of fiscal 2021 were $289.6 million, relative to $305.0 million in the third quarter of fiscal 2020.
- The company has calculated its gross profit for the third quarter of fiscal 2021 as $108.0 million, compared to $110.0 million the previous year. In the third quarter of fiscal 2021, the Company’s gross profit margin was 37.3 percent, compared to 36.1 percent the previous year.
- In the fiscal 2021 third quarter, selling and administrative expense as a percentage of net sales was 25.9%, compared to 23.4 percent in the fiscal 2020 third quarter.
- The company earned $24.1 million in the third quarter of fiscal 2021, or $1.07 per diluted share.
- Net sales were $888.5 million in the 39 weeks ending October 3, 2021, compared to $750.6 million in the first 39 weeks of the previous year.
- For Q3 of fiscal 2021, adjusted EBITDA was $37.3 million, and for the 39-week period ending October 3, 2021, it was $120.5 million. Non-GAAP financial measures include EBITDA and Adjusted EBITDA.
Steven G. Miller, the Company’s Chairman, President, and CEO commented,
They’re thrilled to report yet another outstanding quarter in both sales and profits. Considering the impact of the California wildfires, same-store sales basically held pace with last year’s high pandemic-related sales spike, while comping very favorably against 2019. Although earnings were down somewhat year over year owing to fiscal calendar shifts, sales were up across the board, especially when compared to pre-pandemic levels. They were especially pleased to witness a revival in their team sports industry, as leagues and schools across the markets resumed normal operations.
