El Segundo, Calif. – Big 5 Sporting Goods Corp. released mostly positive financial results for the fourth quarter and fiscal year 2013. During the fourth quarter, net income rose 30% to $5.2 million from $4 million compared to the same period in the prior year.
Net sales increased about 2% to $248 million from $243.6 million, while same-store sales declined 0.5%. During the fiscal year, net income almost doubled, rising 87% to $27.9 million from $14.9 million. Net sales improved 6% to $993.3 million from $940.5 million and same-store sales rose 3.9%.
Steven G. Miller, chairman, president and CEO of Big 5, said a slowdown in firearms and ammunition sales as well as severe winter weather dampened fourth quarter same-store sales.
"We are pleased to have delivered another quarter of earnings growth in a very challenging retail environment," said Miller. "As we previously reported, our fourth quarter sales comparisons were impacted by cycling against the surge of firearm and ammunition sales during the prior year, as well as the lack of favorable winter weather across our western markets. We were able to offset most of the sales softness caused by these factors with positive performance in a number of our other product categories, which we believe reflects the favorable customer response to our merchandising and marketing strategies.”