Big 5 Sporting Goods Corporation Announces Fiscal 2010 Third Quarter Results
Quarterly Cash Dividend
The Company's Board of Directors has declared a quarterly cash dividend of $0.05 per share of outstanding common stock, which will be paid on December 15, 2010 to stockholders of record as of December 1, 2010.
For the fiscal 2010 fourth quarter, the Company expects same store sales in the positive low single-digit range and earnings per diluted share in the range of $0.25 to $0.33. As a result of the fiscal year calendar, the fiscal 2009 fourth quarter included 14 weeks and the fiscal fourth quarter this year includes 13 weeks. The Company's same store sales guidance reflects comparable 13-week periods.Store Openings The Company opened three new stores during the third quarter of fiscal 2010, bringing its store count at the end of the quarter to 391 stores. The Company has opened two new stores during the fourth quarter to date, and anticipates opening an additional five new stores over the remainder of the fourth quarter. Three of the seven stores that are anticipated to open in the fourth quarter are part of relocations that are expected to result in existing stores closing in early 2011. For the fiscal 2010 full year, the Company currently anticipates opening 11 new stores, plus four relocations. Of the four relocations, one replaced store has closed and three existing stores are currently scheduled to close in early 2011. Conference Call Information The Company will host a conference call and audio webcast today, November 2, 2010, at 2:00 p.m. Pacific Time (5:00 p.m. ET) to discuss financial results for the fiscal 2010 third quarter. To access the conference call, participants in North America should dial (877) 718-5108, and international participants should dial (719) 325-4808. Participants are encouraged to dial in to the conference call ten minutes prior to the scheduled start time. The call will also be broadcast live over the Internet and accessible through the Investor Relations section of the Company's website at www.big5sportinggoods.com . Visitors to the website should select the "Investor Relations" link to access the webcast. The webcast will be archived and accessible on the same website for 30 days following the call. A telephone replay will be available through November 16, 2010 by calling (877) 870-5176; passcode is 7933476. About Big 5 Sporting Goods Corporation Big 5 is a leading sporting goods retailer in the western United States, operating 393 stores in 12 states under the "Big 5 Sporting Goods" name. Big 5 provides a full-line product offering in a traditional sporting goods store format that averages 11,000 square feet. Big 5's product mix includes athletic shoes, apparel and accessories, as well as a broad selection of outdoor and athletic equipment for team sports, fitness, camping, hunting, fishing, tennis, golf, snowboarding and in-line skating.
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