Big 5 Sporting Goods Corporation reported preliminary sales results for the fiscal 2024 fourth quarter and full year ended December 29, 2024. Net sales for the fourth quarter were $181.6 million, a decrease from $196.3 million in the fourth quarter of fiscal 2023, with same-store sales declining by 6.1%. For the full fiscal year 2024, net sales totaled $795.5 million, down from $884.7 million in fiscal 2023, and same-store sales decreased by 9.4%.
The company updated its earnings guidance for the fiscal 2024 fourth quarter, now expecting a loss per basic share in the range of $0.94 to $0.97. This updated guidance includes a net benefit of $1.0 million, or $0.04 per basic share, related to an insurance settlement. The previous guidance for the fourth quarter loss per basic share was in the range of $0.80 to $1.05.
For the full fiscal year 2024, Big 5 now anticipates reporting a loss per basic share in the range of $3.14 to $3.17. This full-year guidance incorporates the aforementioned insurance settlement benefit, as well as a non-cash charge of $21.8 million, or $0.99 per basic share, for the establishment of a valuation allowance related to deferred tax assets recorded in the third quarter of fiscal 2024. The company ended fiscal 2024 with $5.4 million in cash and $13.8 million in borrowings under its credit facility.
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