Big 5 Sporting Goods Corporation, a leading sporting goods retailer, reported financial results for the fiscal 2006 third quarter ended October 1, 2006.
For the fiscal 2006 third quarter, net sales increased $16.4 million, or 7.9 percent, to $223.3 million from net sales of $206.8 million for the third quarter of fiscal 2005. Same store sales increased 3.8 percent for the third quarter, representing the Company's 43rd consecutive quarter of positive same store sales comparisons.
Gross profit for the fiscal 2006 third quarter increased 5.6 percent to $77.7 million from $73.5 million in the third quarter of the prior year.
The Company's gross profit margin was 34.8 percent in the third quarter of fiscal 2006 versus 35.6 percent in the third quarter of the prior year, primarily reflecting higher distribution center costs over the prior year in connection with the Company's operation of a new larger distribution center and a significantly lower benefit from inventory cost capitalization than the Company experienced last year.
Selling and administrative expenses as a percentage of sales improved to 26.4 percent in the fiscal 2006 third quarter from 27.9 percent in the third quarter of last year.
Results for the third quarter of fiscal 2006 include a pre-tax charge of $0.6 million ($0.4 million after-tax), or $0.02 per diluted share, for the expensing of stock options. Results for the fiscal 2005 third quarter benefited from the Company's receipt of $1.8 million in settlement proceeds in an eminent domain action related to a Company store.
marketing@alchempro.com
