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Article Date: October 2019
Word Count: 337

Big 5 Sporting Goods Profits Surge in Q3


Net income in the third quarter more than doubled to $6,397,000 from $3,115,000 on the strength of expanding merchandise margins, though sales declined slightly to $266,150,000 from $266,351,000 while same store sales increased 0.3%. Gross margin was up 130 basis points to 32.3% including a 94 b.p. expansion of merchandise margins, credited to a mix shift away from lower-margin firearms and ammunition as well as the retailer’s efforts to optimize pricing and promotions. SG&A was down by $0.8 million, or 30 b.p. as a percent of sales. The strong results pushed BGFV shares up 44% in after hours trading.

 

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