Big 5 provides preview of Q4, FY results
Big 5 Sporting Goods’ (Nasdaq: BGFV) said quarterly sales were lower than expected on a weak December.
For the quarter ended Jan. 2, net sales were $226.7 million versus net sales of $237.6 million in 2009. Fourth-quarter same-store sales fell 0.7 percent.
For the fourth quarter, it now expects adjusted earnings of $0.23-$0.25 a share, compared with its prior view of $0.25-$0.33 a share.
It said same-store sales were in the positive low-single-digit range in October and positive mid-single-digit range for November.
"However, these gains were offset as our sales turned negative over the three-week key gift shopping period preceding Christmas," CEO Steven Miller said in a statement.
For the 2010 full year, net sales increased to $896.8 million from $895.5 million for the 53-week fiscal 2009 full year. Same store sales increased 0.8 percent for the fiscal 2010 full year.
The company is expected to release fourth-quarter results by the first week of March.
Sears releases preliminary Q4, FY results
Sears Holdings (Nasdaq: SHLD) said it expects its fourth-quarter and full-year adjusted earnings to top expectations on better sales at its Kmart chain.
The company, which runs Sears and Kmart, predicted that earnings for the year ending Jan. 29 will be between $1.16 and $1.88 per share.
For the fourth quarter, Sears expects adjusted earnings of $3.39 to $4.12 per share.
The outlooks exclude one-time items such as store closings and impairment charges.
Sears said same-store sales dipped 1.7 percent in December.
Results for Sears domestic stores dropped 6 percent during the month, while Kmart reported a 2.3 percent increase.
For the quarter to date, revenue at stores open at least a year dipped 1.1 percent, with results at Sears domestic locations off 5.3 percent. Quarter-to-date results at Kmart climbed 3.4 percent.
In the third quarter, Sears Holdings posted a 4.8 percent drop in revenue at stores open at least a year.
Year-to-date revenue at stores open at least a year declined 1.6 percent, again pressured by Sears domestic stores, which fell 3.8 percent. Kmart edged up 0.8 percent for the period.
Sears plans to report its fourth-quarter and full-year results on Feb. 24.
--Compiled by Wendy Geister
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