BGFV swung to a $1,119,000 loss from a $2,314,000 profit last year in the fiscal first quarter ended Apr. 3 as revenues dropped to $234,528,000 from $243,555,000. The calendar shift due to the 53-week 2015 and the shift in the Easter holiday cost the top line $3.9 million. Same store sales decreased 1.9%. Merchandise margins contracted 86 basis points contributing to a gross margin of 30.3% vs. 31.5% last year.

The first quarter started strong with seasonal weather driving winter product sales and Jan. comps up high-single digits, but the next two months fell mid-single digits with an early start to ... Log in to view full article.