Big 5 Sporting Goods: Jumps as monthly same-store sales turn positive

Big 5 Sporting Goods

27/05/2020 22:01

** Sports goods retailer's shares  BGFV.O  up 13.4% at $2.20
after the bell
    ** Big 5 says same-store sales for fiscal May up slightly
after declining ~39% in fiscal April
    ** BGFV says comp sales jumped ~15% in the last two weeks of
May as many of its stores reopen and customers indulge in
outdoor activities again
    ** Says merchandise margins are trending positively so far
this quarter, compared with a year earlier
    ** BGFV has reduced store operating hours, advertising
expenses and planned capital spending in fiscal 2020 to save
cash
    ** Q1 same-store sales fall 10.8%; BGFV also posts a loss
compared with a profit a year earlier due to COVID-19
disruptions  urn:newsml:reuters.com:*:nGNX3T97Qs
    ** BGFV has lost about one-third of its value this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com; within U.S. +1 646
223 8780 (Extn. 3478), outside U.S. +91  80 6182 3478;))