BIG 5 SPORTING GOODS CORP

CIK:0001156388|SEC Filings

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2025	Jun. 30, 2024	Jun. 29, 2025	Jun. 30, 2024
Income Statement [Abstract]
Net sales	$ 184,894	$ 199,824	$ 360,541	$ 393,251
Cost of sales	132,729	141,100	254,048	274,129
Gross profit	52,165	58,724	106,493	119,122
Selling and administrative expense	75,367	72,227	146,132	143,606
Operating loss	(23,202)	(13,503)	(39,639)	(24,484)
Interest expense	1,330	82	2,142	205
Loss before income taxes	(24,532)	(13,585)	(41,781)	(24,689)
Income tax expense (benefit)	8	(3,581)	9	(6,399)
Net loss	$ (24,540)	$ (10,004)	$ (41,790)	$ (18,290)
Loss per share:
Basic	$ (1.11)	$ (0.46)	$ (1.89)	$ (0.84)
Diluted	$ (1.11)	$ (0.46)	$ (1.89)	$ (0.84)
Weighted-average shares of common stock outstanding:
Basic	22,157	21,956	22,090	21,894
Diluted	22,157	21,956	22,090	21,894

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 29, 2025	Jun. 30, 2024
Cash flows from operating activities:
Net loss	$ (41,790,000)	$ (18,290,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	8,229,000	8,834,000
Impairment of assets	1,311,000
Share-based compensation	1,145,000	1,444,000
Amortization of other assets	719,000	533,000
Noncash lease expense	33,314,000	34,688,000
Proceeds from insurance recovery - lost profit margin and expenses	25,000
Deferred income taxes		(6,363,000)
Changes in operating assets and liabilities:
Accounts receivable, net	246,000	(1,140,000)
Merchandise inventories, net	(22,964,000)	(13,813,000)
Prepaid expenses and other assets	1,094,000	2,117,000
Accounts payable	3,286,000	26,705,000
Operating lease liabilities	(34,267,000)	(35,466,000)
Accrued expenses and other long-term liabilities	(428,000)	(2,176,000)
Net cash used in operating activities	(50,080,000)	(2,927,000)
Cash flows from investing activities:
Purchases of property and equipment	(3,183,000)	(6,266,000)
Proceeds from insurance recovery - property and equipment	933,000
Net cash used in investing activities	(2,250,000)	(6,266,000)
Cash flows from financing activities:
Borrowings under revolving credit facility	120,153,000
Payments under revolving credit facility	(62,495,000)
Changes in book overdraft	(3,443,000)	10,167,000
Principal payments under finance lease liabilities	(1,998,000)	(2,135,000)
Proceeds from exercise of share option awards		12,000
Tax withholding payments for share-based compensation	(91,000)	(311,000)
Dividends paid	(358,000)	(2,803,000)
Net cash provided by financing activities	51,768,000	4,930,000
Net decrease in cash	(562,000)	(4,263,000)
Cash at beginning of period	5,418,000	9,201,000
Cash at end of period	4,856,000	4,938,000
Supplemental disclosures of non-cash investing and financing activities:
Property and equipment acquired under finance leases	1,084,000	520,000
Property and equipment additions unpaid	853,000	949,000
Supplemental disclosures of cash flow information:
Interest paid	1,808,000	598,000
Income taxes paid	$ 39,000	$ 10,000

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2025	Dec. 29, 2024
Current assets:
Cash	$ 4,856	$ 5,418
Accounts receivable, net of allowances of $31 and $59, respectively	9,048	10,252
Merchandise inventories, net	283,271	260,307
Prepaid expenses	8,923	10,192
Total current assets	306,098	286,169
Operating lease right-of-use assets, net	255,516	261,887
Property and equipment, net	46,596	51,788
Other assets, net of accumulated amortization of $3,464 and $3,127, respectively	8,978	9,522
Total assets	617,188	609,366
Current liabilities:
Accounts payable	69,836	69,728
Accrued expenses	57,460	58,946
Current portion of operating lease liabilities	66,920	70,288
Current portion of finance lease liabilities	3,686	3,642
Total current liabilities	197,902	202,604
Operating lease liabilities, less current portion	199,264	202,894
Finance lease liabilities, less current portion	7,600	8,558
Long-term debt	71,414	13,756
Other long-term liabilities	6,118	5,943
Total liabilities	482,298	433,755
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, authorized 50,000,000 shares; issued 27,225,976 and 26,998,880 shares, respectively; outstanding 22,918,721 and 22,691,625 shares, respectively	271	269
Additional paid-in capital	132,267	131,215
Retained earnings	56,609	98,384
Less: Treasury stock, at cost; 4,307,255 shares	(54,257)	(54,257)
Total stockholders' equity	134,890	175,611
Total liabilities and stockholders' equity	$ 617,188	$ 609,366