Earnings Call Excerpt
Big 5 Sporting Goods Corp. (BGFV)
Q4 2007 Earnings Call
February 28, 2008 5:00 pm ET
Executives
Steve Miller – Chairman and Chief Executive Officer
Barry Emerson – Chief financial Officer
Analysts
Brian Nagel – UBS
Ralph Jean – Wachovia
John Shanley - Susquehanna
David Magee - SunTrust Robinson Humphrey
Rick Nelson – Stephens
Anthony Lebiedzinski – Sidoti & Co.
Presentation
Operator
Good day ladies and gentleman and welcome to the Big 5 Sporting Goods fourth quarter 2007 earnings results conference call. At this time all participants are in a listen-only mode. Following today’s presentation instructions will be given for the question-and-answer session. (Operator Instructions) On the call today is Mr. Steve Miller President and Chef Executive Officer and Mr. Barry Emerson, Chef Financial Officer. I would like to turn the conference over to Mr. Steve Miller. Please go ahead sir.
Steve Miller
Thank you. Good afternoon everyone and welcome to our fiscal 2007 fourth quarter Conference Call. Today we will review our financial results for the fourth quarter and full year of 2007 and provide general updates in our business as well provide guidance. At the end of our remarks we will open the call for questions. I will now turn the call over to Barry to ready our Safe Harbor statement.
Barry Emerson
Thanks Steve. Except for statements of historical fact any remarks that we may make about our future expectations, plans and prospects constitute forward-looking statements made pursuing to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in current and future periods to differ materially form forecasted results. These risks and uncertainties include those more fully described in our annual report on form 10K for fiscal 2006, our quarterly reports on form 10Q for the first second and third quarter of fiscal 2007 and other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward looking statement that may be made from time-to-time by us or on our behalf.
Steve Miller
Thank you, Barry. Today we reported fourth quarter and full year results which we believe very much reflect the challenging macro economic environment facing many retailers. As we previously reported our fourth quarter sales in detail, I will now provide a brief recap.
In the fourth quarter our same store sales declined 4.7% which was by far our weakest quarterly comp store sales performance since 1995. We believe that the primary effect factor effecting sales was the soft consumer environment that has impacted our markets for nearly a year. Sales and product margins were also negatively impacted in a material manner by the significant drop-off in roller shoe sales. This one category accounted for 45% of the decline in same store sales and nearly all of the 35 basis point decrease in product margins for the quarter.
- To read the full transcript on Seeking Alpha, click here »
