By
Reuters
Published
Aug 1, 2012
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Big 5 Sporting's second-quarter profit beats Street estimates

By
Reuters
Published
Aug 1, 2012

Big 5 Sporting Goods Corp's quarterly profit beat Wall Street estimates, aided by strong sales of its apparel and footwear products.


Photo: Big 5 Sporting Goods


The sports goods retailer also forecast a profit of 28 to 34 cents per share for the third quarter, largely above the 30 cents analysts estimated on average.

For the second quarter, the company posted net income of $2.6 million, or 12 cents per share, beating analysts' estimates by 2 cents per share according to Thomson Reuters I/B/E/S.

Sales rose 4 percent to $226.6 million , but narrowly missed Wall Street estimates of $227.4 million due to, the company said, certain holiday-related sales shifting to the third quarter.

Big 5 Sporting said second-quarter sales were negatively affected as the Fourth of July holiday moved further into its third quarter this year.

The El Segundo, California-based company's same-store sales grew 1 percent.

The company's shares closed at $7.54 on Tuesday on the Nasdaq.

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