Regional sporting goods retailer Big 5 Sporting Goods (BGFV 0.70%) reported third-quarter results yesterday after the markets closed, showing that it posted net sales of $259.1 million, a near 3% gain from the $251.8 billion in the same period in the previous year, but below the $264.8 million Capital IQ consensus estimate. Shares were up more than 18% this morning.
Net income for the quarter came in at $9.1 million, or $0.41 per share, up 11% from $8.2 million, or $0.38 per share, in the same period in 2012, but $0.03 below the CapIQ estimates of $0.44 per share.
Big 5 gained from a shift in the calendar that brought the July 4 holiday into the third quarter, resulting in certain holiday-related sales moving forward and helping same-store sales rise 1.4% from the year-ago quarter.
The sporting goods retailer expects fourth-quarter same-store sales to be in the low single-digit range and earnings per share to be between $0.20 and $0.28 per share, reflecting expenses related to the development of its new e-commerce platform swiping approximately $0.02 per share from its results. That still puts it in the ballpark of analyst estimates of $0.25 per share.
