Big 5 Sporting Goods Stocks Decline

Shares of Big 5 Sporting Goods took a hit on Wednesday following the company's report of a fourth-quarter loss.

Stock Performance

In afternoon trading, the company's stock saw an 8.3% drop to $4.84 per share.

Financial Report

After the bell Tuesday, Big Five revealed a fourth-quarter loss per share of 41 cents with sales reaching $196.3 million. This was a significant difference from the year-ago period, where the company reported an earnings per share of 8 cents on sales of $238.3 million.

Guidance Update

Previous guidance suggested a fourth-quarter loss between 38 to 40 cents per share. Looking ahead, the company anticipates a loss per share ranging from 30 to 40 cents for the first quarter.

CEO Statements

Steven G. Miller, Chairman, President, and CEO of Big 5 Sporting Goods, acknowledged the impact of the challenging economic environment on their fourth-quarter results. He stated, "As previously reported, our fourth-quarter results were impacted by the challenging macroeconomic environment, which pressured discretionary spending among our consumers."

Future Outlook

When assessing the current trends, Miller noted that the first-quarter sales reflect continued macroeconomic uncertainty and have been influenced by extreme weather conditions experienced across much of their operating areas.