Citing tough comps of favorable winter weather last year against poor conditions in 2018, Big 5 had a net loss of $1,309,000 in Q1 ended Apr. 1 against income of $5,326,000 on sales that fell 7% to $234,178,000 from $252,604,000 with comps falling 7.5% this year against a 7.9% increase last year. The lower sales levels and poor weather also hit gross margin, which contracted 200 b.p. on 58 b.p. of merchandise margin contraction and the rest in occupancy deleverage.

BGFV noted that sales improved as the quarter went along and that trend has continued into Apr. where comps are up ... Log in to view full article.