Big 5 Reports Loss against Income in Q4
The loss was $12,950,000 against a profit of $7,694,000 for the final quarter ended Dec. 31 as sales dipped 8% to $242,889,000 from $266,283,000 with comp store sales off 9.4% as a warm start to the winter selling season against a strong performance last year caused a nearly 50% decline in winter sports sales for the period. The final quarter saw BGFV take charges totaling $6.2 million to revalue store assets and another $5.5 million to revalue tax assets. Last year’s results included $0.9 million in charges. The results, which were pre-announced early in Jan. completed a year in which ... Log in to view full article.