Big 5 Sporting Goods Corporation announced its financial results for the fiscal 2025 second quarter ended June 29, 2025. The company reported a net loss of $24.5 million, or $1.11 per basic share, significantly wider than the net loss of $10.0 million, or $0.46 per basic share, in the second quarter of fiscal 2024. The current quarter's loss included $2.8 million, or $0.13 per basic share, in merger transaction-related expenses and a $1.3 million, or $0.06 per basic share, non-cash asset impairment charge for underperforming stores.
Net sales for the second quarter were $184.9 million, a decrease from $199.8 million in the prior-year period, with same-store sales declining by 6.1%. The gross profit margin for the quarter was 28.2%, down from 29.4% in the prior year, primarily reflecting lower merchandise margins and higher store occupancy and distribution expenses as a percentage of net sales. Selling and administrative expenses increased by $3.2 million, reaching 40.8% of net sales, partly due to merger-related legal and third-party expenses.
Big 5 ended the fiscal 2025 second quarter with $71.4 million of borrowings under its $150.0 million credit facility and a cash balance of $4.9 million. Merchandise inventories were consistent with the prior year period. The company also stated its expectation to close approximately four additional stores in the fiscal 2025 third quarter as part of its ongoing store optimization efforts. Management confirmed that progress is being made toward the pending go-private transaction with Worldwide Golf and Capitol Hill Group, with an expected closing in the second half of 2025, subject to customary closing conditions and stockholder approval.
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